BofA’s Moynihan Says AI’s Economic Benefit Is ‘Kicking In More’

Bank of America Corp.Chief Executive Officer Brian Moynihan said that artificial intelligence is starting to have a bigger impact on the US economy.

“The AI investment’s been building during the year and is probably a bigger contributor next year and the years beyond,” Moynihan said Monday in a Bloomberg Television interview. “AI is kicking in more and more, and so it’s not all attributable to AI, but that’s having a marginal impact that’s pretty strong.”

Moynihan, who has led the bank for nearly 15 years, said the firm is predicting a strong economy for the US next year, with ...