Record breaking year in patents for Bank of America
Despite the pandemic looming over the world in early 2021, Bank of America reported that they saw a 16% increase in patents from 2020. This growth was felt most in the technology and data sectors. Blockchain and AI patents increase 86% and 31% respectively, as well as data analytics which grew 32%. This increase in patents is vital in setting up future growth for the company.
Balance Sheet|Competition|New Activity|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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