BofA’s CEO Asked AI for Mortgage Data and Got Picture of a House

For all of artificial intelligence’s advantages, it still has a long way to go, according to Bank of America Corp. Chief Executive Officer Brian Moynihan.

“I was trying to get a mortgage-amortization schedule. I pounded in it three times, got stuff you couldn’t read. Finally I just got a picture of a house,” Moynihan said Wednesday at the BofA Securities Financial Services Conference. “That’s not right or wrong. It’s just still learning how to do this stuff. And I’m learning how to do the stuff with it.”

Brian Moynihan

Photographer: Jeenah Moon/Bloomberg

The rise of ChatGPT has prompted many firms to boost hiring ...