Bank of America Corp. Chief Executive Officer Brian Moynihan said artificial intelligence is beginning to play a larger role in U.S. economic growth, as rising investment feeds into productivity and capital spending. Speaking in a Bloomberg Television interview, Moynihan said AI investment has been building throughout the year and is expected to contribute more meaningfully in the years ahead.
The bank forecasts U.S. economic growth of 2.4% next year, up from about 2% in 2025. Moynihan said the labor market has softened but remains strong by historical standards, supported by consumer spending and resilient capital markets.
Moynihan said Bank of America sees limited downside risk if AI investment were to slow, noting that the sector is concentrated among a relatively small group of companies. As a lender, the bank focuses on project leverage and contract duration, particularly for data center developments supporting AI workloads.
He also said Bank of America is expanding its own use of AI across operations. The firm is deploying automated and augmented intelligence tools to improve employee effectiveness across business lines, reflecting broader adoption of AI technologies within the financial services sector.
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