"Borthwick pointed to AI as an increasingly important driver, highlighting a new internal tool for financial advisors. The Meeting Journey tool helps advisors prepare for client meetings by pulling together key information."
"Preparing for meetings once meant pulling data from multiple systems; now much of that work is automated. Not necessarily the judgment—that can be human."
"Efforts like this translate into results, pointing to record first-quarter revenue and improved cost control."
"The bank invests around $13.5 billion annually in technology, including approximately $4 billion on new initiatives like AI."
Bank of America achieved a net income of $8.6 billion in Q1 2026, marking a 25% increase in earnings per share. CFO Alastair Borthwick emphasized the role of AI in improving bank performance, particularly through the Meeting Journey tool for financial advisors. This tool automates the preparation for client meetings by consolidating client insights and acting as an AI notetaker. The bank's strong performance was also supported by increased net interest income and trading revenue, alongside improved cost control.
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