TITLE: Bank of America CEO: AI's Economic Impact Growing in 2026

Bank of America Forecasts Stronger US Growth Amid AI Surge

Bank of America Corp. Chief Executive Officer Brian Moynihan stated that artificial intelligence is exerting a growing influence on the US economy, with investments in the technology poised to drive expansion in the coming years.

In an interview on December 22, 2025, Moynihan highlighted that AI's economic benefits are "kicking in more," building on investments throughout the year. He projected US economic growth of 2.4% in 2026, an increase from approximately 2% in 2025. While acknowledging a softening labor market, Moynihan described it as a normalization of job conditions rather than a sign of broader weakness.

The bank's outlook reflects confidence in sustained momentum, supported by AI's marginal but strong impact. Moynihan, who has led the second-largest US bank by assets for nearly 15 years, emphasized that not all growth stems from AI, but the technology's role is expanding.

AI Investments and Sector Risks

Recent months have seen AI firms, such as OpenAI, secure billions in funding as investors pour capital into the sector. However, warnings from figures like Amazon.com Inc. founder Jeff Bezos have surfaced, labeling the surge in AI spending an "industrial bubble" that could result in investment losses but ultimately benefit society.

Moynihan downplayed potential fallout from an AI downturn, citing the sector's concentration among a limited number of companies. As a lender, Bank of America assesses project leverage and contract durations to mitigate risks, particularly for data center commitments. "We look at the leverage on these projects and make sure we’re comfortable with that," Moynihan said.

This prudent approach underscores the bank's view of relatively contained risks to consumers and employment, even if the AI industry overheats and contracts.

Bank's Adoption of AI Technologies

Internally, Bank of America is deepening its use of AI to enhance operations. The company introduced its virtual assistant, Erica, in 2018, which initially handled 200 types of queries. Today, Erica can respond to 700 questions, demonstrating significant advancements in automated capabilities.

Moynihan described the bank's strategy as leveraging "augmented intelligence," where AI supports human decision-making to boost efficiency across business lines. "We’ll be applying more and more of automated intelligence... and that’ll affect all the businesses," he said.

This integration aligns with broader industry trends, positioning Bank of America to capitalize on AI's productivity gains while managing associated challenges.

The projections and insights come amid a backdrop of evolving economic indicators, with the Federal Reserve monitoring inflation and employment data closely. Moynihan's comments provide a window into how major financial institutions are navigating the intersection of technology and macroeconomic trends.