Bank of America has come out with a virtual assistant bot. The system was introduced at Money2020, a fintech conference in Las Vegas. Named Erica, the bot uses artificial intelligence and predictive analytics to learn a customer’s personal spending habits and offer helpful advice. The service will be available by voice command or plain text in Bank of America smartphone apps in 2017. The bank said Erica is designed to become each customer’s ‘personal advocate’. It can tell one about his spending habits, if he spends more than usual on a certain product or category of products, some opportunities to reduce debt or save money, and if one’s credit score took a dip.
