Bank of America anticipates that investments in artificial intelligence (AI) will enhance returns by 2026, as CEO Brian Moynihan shared his optimism regarding growth in both the US and India.
He noted that the bank is still in the “early days” of exploring agentic AI.
Moynihan detailed BofA’s $14 billion technology budget, with approximately $4.5 billion designated for AI initiatives. He mentioned that tools like the bank’s virtual assistant Erica, which caters to 20 million customers, are already producing measurable returns and boosting efficiency across numerous client processes.
“AI provides us another avenue to assist [clients] in addressing their needs,” he stated during a discussion with CNBC-TV18’s Shereen Bhan at the World Economic Forum in Davos.
Regarding India, Moynihan projected a GDP growth of 6.5% in 2026, highlighting policies that have rendered the nation more business-friendly.
Moynihan interpreted US commerce secretary Howard Lutnick’s insights on the US-India trade deal as a call to create a fair market with reciprocal investment flowing into the US as well. “India can fit well into that,” he added.
He further emphasized that BofA would continue to grow its presence in India, especially in corporate and treasury services, following investments exceeding $100 million in its payments platform over recent years.
Moynihan also expressed faith in the independence of the US Federal Reserve amid ongoing discussions about its leadership, as US President Donald Trump continues to seek influence over the central bank.
First Published: Jan 23, 2026 8:35 AM IST
