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Bank of America ups tech spend $400M YoY amid AI boom

by admin
June 2, 2023
in Fintech
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Bank of America ups tech spend $400M YoY amid AI boom
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Bank of America expects to increase technology development spend by nearly 12% year over year as the race for generative AI innovations engulfs the financial industry. The bank is projected to hit $3.8 billion in tech spend in 2023, up from a February projection of $3.7 billion, Chief Executive Brian Moynihan said Thursday at wealth […]





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