In Bank of America's 2023 Annual Report released yesterday, the bank offered some insight into what it's been doing with technology. Most notably, it highlighted Singapore's growth and extensive patents.
The Singapore team has grown to about 21,000 employees at the end of 2023, according to a BofA report. Non-technical staff resides in his OUE Bayfront office, which he calls one of two “global command centers covering cybersecurity and technology infrastructure.” It is said that it is located in Located at Harbourfront Place, 1 hour walk away.
However, BofA's hiring in Singapore appears to be slowing in 2024. Joiners in the technology industry are few and far between, and he is one of only two open engineering jobs in the country right now.
Singaporeans may end up working on cybersecurity innovations, but not on the bank's major efforts in AI.
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BofA's best AI exploit appears to be its virtual assistant, Erica. Roles in that team tend to disproportionately favor the East Coast of the United States. His BofA headquarters in Charlotte has more members of his Erica team than New York and San Francisco combined. Boston is home to Erika founder Christian Kitchell, so there are several members of the team as well.
One of the bank's most senior innovation hires recently is Mayur Thakur, who joined the bank in November. A PhD computer scientist, he is a former Goldman Sachs MD and Google technology lead, and most recently served as chief data officer at health tech startup H1. Prior to joining, Mr. Thakur was active online and participating in discussions about generative AI.
Bank of America holds “more than 4,500 patents” related to its technology, including AI.
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