By using Metaverse, the Bank of America employees are taught how to handle stressful situations at the bank.
To familiarize their recent recruits with diverse banking scenarios, Bank of America is leveraging the power of Metaverse in combination with artificial intelligence.
According to a Bloomberg report on July 13th, the bank's latest 2,000 recruits embark on a week-long induction process, immersing themselves in simulated circumstances via a VR headset. The realism of this technique allows them to experience everything from customer service interactions to extreme crises like bank heists.
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Not all VR experiences are stressful, though. Recruits can also unwind within the VR environment by relaxing on a virtual island or taking a fictitious unicorn ride.
Further enhancing the training procedure, artificial intelligence is incorporated to simulate customer interactions. Newcomers practice their communication skills with an AI bot assuming the role of a customer while another bot guides the conversation.
The bank's endeavor into virtual training has reached over 200,000 of its worldwide employees to date. Even in the bank's call centers, an AI bot sharpens employees' conversational abilities with clients.
Mike Wynn, the innovation and design executive of BoA's Academy, voiced his support for the new training method. Wynn pointed out that these scenarios, which are challenging to convey in traditional teaching methods, become more accessible via VR, as it induces a heightened state of awareness.
Bank of America is considering employing its Metaverse during job fairs, aiming to appeal to the younger demographic. The prospective bankers will have a chance to virtually experience the day-to-day life of a bank associate, which the bank believes will make a career in banking more captivating for them.
The integration of virtual reality and artificial intelligence into training processes demonstrates how Bank of America is pioneering the next era of workforce development. However, it is not the only institution aiming to boost employee training with the Metaverse. At the end of October 2022, Interpol launched a Metaverse dedicated to worldwide law enforcement.
