Bank of America Unveils AskGPS: AI Tool Speeds Up Client Service
Bank of America has introduced Ask Global Payments Solutions (AskGPS), a pioneering AI tool that's revolutionizing how it serves clients. The new system, termed a 'strategic engine' by Mark Monaco, head of GPS, converts institutional knowledge into real-time intelligence. Previously, intricate queries could take hours, but AskGPS now provides answers almost instantaneously. The tool was developed in-house, trained on over 3,200 internal documents and presentations. It supplements existing AI solutions like CashPro® Chat with Erica® technology, CashPro Forecasting, and Intelligent Receivables. Bank of America continues to broaden its AI use across four key domains: intelligent agents, search and summarization, content generation, and operations and coding. AskGPS benefits clients by offering faster turnaround on product and onboarding inquiries, more personalized solutions, and enhanced strategic guidance. AskGPS, lauded as a 'bold leap forward' by Jarrett Bruhn, head of Data & AI for GPS, is poised to transform how Bank of America's Global Payments Solutions team operates. By leveraging generative AI, the bank aspires to provide clients with quicker, more informed service.
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