Bank of America aims to build 'high-tech, high-touch' business

Bank of America is pursuing a dual-track strategy in wealth management and investment services, deploying AI to accelerate adviser productivity while maintaining the personal relationships that affluent clients expect. The "high-tech, high-touch" approach reflects the bank’s plan for generative AI across its retail, private banking and mass affluent businesses, Hari Gopalkrishnan , chief technology and information officer, said during the Fortune AIQ event on Oct. 1. [caption id="attachment_57389324" align="alignright" width="320"] Courtesy/FinAi News[/caption] In practice, it means automating routine tasks that advisers currently handle manually, sometimes over days or weeks, while reserving complex, relationship-driven decisions for human judgment, he said. "High-tech is everybody does things on your own, but there are times if you want to do an estate plan — you know the markets are going crazy — you want to talk to somebody,” Gopalkrishnan said. Efficiency gains are significant, he said, adding that financial advisers click a button to generate a client meeting preparation document that previously took days or weeks to assemble. The system pulls balances, portfolio data and conversation history to create comprehensive briefings in minutes, freeing advisers to focus on strategic counsel rather than data compilation. Personalized offerings The bank's investment services division is pursuing more personalized portfolio selection through AI-driven chief investment officer models that learn client preferences and automatically rebalance holdings, he said. These systems become increasingly sophisticated over time and only operate within parameters clients have approved, Gopalkrishnan said. AI guardrails Behind this rollout sits rigorous governance. The $2.6 trillion bank has established 16 AI governance pillars spanning privacy, bias, workforce implications and intellectual property — each a guardrail the bank applies before deploying new tools, Gopalkrishnan said. He emphasized that the governance framework is "never an option," but a foundational requirement. "We're not going to implement a chatbot that only answers to certain accents or we're not going to implement a fraud model that is going to bias toward certain demographic classes," he said. "Responsible AI is what you always do." FinAi Lending Summit, set for Oct. 7-8 in Las Vegas, will include speakers from Fifth Third and Capital One as well as a fireside chat with U.S. Bank Senior Vice President – Lending Operations Group Manager Suzanne Rathbun . To learn more about the 2026 event and register, visit here .

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