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Bank of America CEO admits that AI is shrinking some departments even as bank boosts minimum wage to $25

Source
Bank of America: Bank of America CEO admits that AI is shrinking some departments even as bank boosts minimum wage to $25
Published
Sep 18, 2025
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“The key to that is really redeploying people and re-skilling them,” Brian Moynihan said on Bloomberg TV, adding that he hopes to redeploy, not replace.

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About Us CollectWise is a fast growing and well funded Y Combinator-backed startup. We’re using generative AI to automate debt collection, a $35B market in the US alone. Our AI agents are already outperforming human collectors by 2X, and we’re doing so at a fraction of the cost. With a team of three, we scaled to a $1 million annualized run rate in just a few months, and we are now hiring an AI Agent Engineer to help us reach $10 million within the next year. Role We are hiring an AI Agent Engineer to design, optimize, and productionize the...

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