Bank of America CEO Brian Moynihan has emphasized the growing impact of artificial intelligence on the US economy. Investments in AI have been increasing throughout the year and are expected to become an even more significant driver of growth in 2026 and beyond. According to Moynihan, while AI is not the sole engine of the economy, its influence is "quite substantial."

Bank of America projects a steady growth rate of 2.4% for the US economy in 2026, up from an estimated 2% in 2025. Moynihan noted that the easing labor market appears to be a normalization of employment following an excessively tight period. He emphasized the strength of the US economy in a historical context and in comparison to global peers, attributing its resilience to a "capitalistic engine" driven by consumer activity.

The banker perceives minimal risk to the economy from potential overheating in the AI sector. Since the industry is concentrated among a narrow group of companies, any contraction would not significantly impact consumers or employment. Bank of America is also actively implementing augmented intelligence across all areas of its business. This involves leveraging AI to enhance efficiency. In financing AI projects, the bank carefully assesses financial leverage and the duration of data center usage contracts.