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Bank of America<\/span><\/a>\u00a0is using digital tools to prepare employees for real-world situations.<\/span><\/p>\n The bank is using the latest in artificial intelligence (AI), virtual reality (VR) and the metaverse to create an immersive learning experience for its employees, Bloomberg <\/span>reported<\/span><\/a>\u00a0Thursday (July 13).<\/span><\/p>\n John Jordan<\/span><\/a>, head of the Academy at Bank of America, said in the report: \u201cThese simulations act like practice reps. It makes a new employee experienced, even if they\u2019re brand new.\u201d<\/span><\/p>\n The technologies are used to help train staffers about such things as calming an angry customer or remaining calm themselves during a robbery, according to the report. They are also used to provide virtual tours and explanations of bank branches, the company\u2019s history and employee benefits.<\/span><\/p>\n With this teaching method, Bank of America aim to provide a hands-on and interactive training approach to staff, so that they have the capacity to better understand the complexities of their jobs and the bank itself, the report said.<\/span><\/p>\n More than 200,000 staffers around the world \u2014 both new recruits and existing employees \u2014 have used at least one of the technologies for training, per the report.<\/span><\/p>\n Mike Wynn<\/span><\/a>, innovation and design executive for Bank of America\u2019s Academy, said the immersive experience delivered by the technology helps simulate conversations with customers during training: \u201cIt\u2019s hard to teach traditionally. VR creates anxiety, it gets your heart rate up. It makes you nervous.\u201d<\/span><\/p>\n Brian Moynihan<\/span><\/a>, CEO of Bank of America, noted the potential of the technology while also expressing caution, saying in the report that AI could have \u201cextreme benefits\u201d but \u201cwe have to understand how the decisions are made\u201d as AI becomes more advanced.<\/span><\/p>\n Training is one of the many uses to which AI, VR and the metaverse have been applied.<\/span><\/p>\n For example, in January,\u00a0<\/span>workplace VR<\/span><\/a>\u00a0startup\u00a0<\/span>Gemba<\/span><\/a>\u00a0raised $18 million in a Series A funding round to continue expanding its selection of training simulations, tools, events and learning experiences.<\/span><\/p>\n In October 2022, it was reported that the\u00a0<\/span>International Criminal Police Organization<\/span><\/a>\u00a0(Interpol) has built a global\u00a0<\/span>virtual training<\/span><\/a>\u00a0facility in a private metaverse that includes a training course on travel document verification and passenger screening.<\/span><\/p>\n