Bank of America’s annual spending on new, strategic technology initiatives, which includes investments in artificial intelligence, has increased by 44% over the past decade to reach $4 billion in 2025. The executive that’s steering those investments is Hari Gopalkrishnan, a 14-year veteran who was promoted to serve as the chief technology and information officer in late July.
Today at Bank of America’s investor day event, Gopalkrishnan will outline the vision for these strategic tech bets and discuss how they tie into the broader $118 billion in tech investments that the company has made over the past decade. It is the first time leadership has held this event in 15 years and Gopalkrishnan, CEO Brian Moynihan, and other C-suite leaders will face investors as Bank of America’s stock has lagged the five other large U.S. banks for the past five years.
