Mar 10, 2023

Bank of America Obsessed With AI, Says It’s the “New Electricity”

Posted by in categories: finance, internet, robotics/AI

The financial industry’s response to artificial intelligence has been all over the place. Now, Bank of America is weighing in very much on the side of the bots.

In a note to clients viewed by CNBC and other outlets, BofA equity strategist Haim Israel boasted that AI was one of its top trends to watch — and invest in — for the year, and used all kinds of hypey language to convince its clients.

“We are at a defining moment — like the internet in the ’90s — where Artificial Intelligence (AI) is moving towards mass adoption,” the client note reads, “with large language models like ChatGPT finally enabling us to fully capitalize on the data revolution.”

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