TL;DR

Bank of America has deployed an AI advisory platform built on Salesforce’s Agentforce to around 1,000 financial advisers. The system helps staff handle client queries, prepare recommendations, and manage daily workflows — a step beyond the chatbots and productivity tools that have characterised earlier banking AI deployments.

From chatbots to advisory support

The platform represents a shift from how banks have traditionally used AI. Earlier deployments focused on customer-facing chatbots or internal productivity gains. Bank of America’s own virtual assistant, Erica, already handles work equivalent to roughly 11,000 employees, while 18,000 of its software developers use AI coding tools that the bank says have improved productivity by around 20%.

The new Agentforce deployment goes further by placing AI directly into the advisory process, where it can analyse client data and help advisers prepare for meetings. JPMorgan, Wells Fargo, and Goldman Sachs are testing similar tools, though each bank’s approach varies in scope and focus.

Caution alongside adoption

Not everyone is convinced the pace of change is as dramatic as headlines suggest. Wells Fargo analyst Mike Mayo described the current phase as “a little boring from a product standpoint,” noting that recent AI developments have yet to produce major new banking products.

There are also practical barriers. AI systems depend on clean, structured data that large financial institutions do not always have. Regulatory requirements add another constraint — banks must ensure AI-driven recommendations meet compliance standards and can be explained to regulators if challenged.

Looking forward

Some estimates suggest up to a third of banking roles could eventually be partially handled by AI. For the UK financial sector, Bank of America’s rollout offers an early indicator of how AI agents might reshape wealth management. If the model works, advisers may spend less time on preparation and more on client relationships — but the compliance and data quality challenges will apply equally to UK institutions exploring similar paths.