#bank of america

Bank of America customers had trouble accessing their accounts on Wednesday. According to CNN, accounts were massively unavailable, and those who could access them saw empty balances.

Despite advances in payment effectiveness and customer care, analysts Alkesh Shah and Andrew Moss from Bank of America think that PayPal USD (PYUSD) won't be widely adopted anytime soon. They wrote, "Over the longer term, we expect PYUSD to experience additional adoption headwinds as competition from central bank digital currencies (CBDCs) and yield-bearing stablecoins increases."

The latest report from Bank of America casts light on the dualistic role of artificial intelligence (AI) in the banking sector. AI is touted to boost operational efficiency and productivity, with a potential upswing in banking profits.