The AI Advantage: How to Build a Future-Ready Workforce with Smarter Training
By Caroline Hroncich, Contributor at The Financial Brand
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Executive Summary
- Banks are using generative AI to transform employee learning by turning everyday tasks into real-time training opportunities.
- Tools like Erica for Employees and Gemini help staff boost efficiency while building skills and confidence.
- Success depends on clear guidance, trust building and measuring how AI enhances learning and workforce development.
AI is reshaping how employees learn and work. From managing routine questions to preparing for client meetings, generative AI is becoming a tool that helps staff streamline tasks, develop skills more efficiently and navigate their roles with greater confidence.
Banks of all sizes are experimenting with generative AI tools to improve day-to-day operations. At Bank of America, for instance, Erica for Employees helps staff manage everything from password resets to questions about benefits. The bank’s wealth management teams also have access to tools that support client interactions.
Smaller institutions are testing similar strategies. Digital bank Grasshopper, for example, is using platforms like Gemini to draft follow-ups, capture meeting notes and make internal communications more efficient.
“We made a very clear statement that we are going to find a way to leverage AI to increase our backoffice efficiency,” says Pete Chapman, chief technology officer at Grasshopper. “What we’re not trying to do is replace people, we are trying to make you more efficient.”
Many bank executives are still figuring out how to measure the real impact — and return on investment — of generative artificial intelligence on employee growth and development. Add in employees’ concerns, along with questions around confidentiality and data security, and it becomes a complex challenge that financial institutions are only beginning to navigate. Yet banks that equip employees with AI tools — and provide clear guidance on how to use them — can turn these technologies into a driver of learning, skill-building and workforce readiness.
“The world of gen AI is moving at warp speed,” says Nikhil Lele, Americas Consulting Banking and Capital Markets leader at EY. “This tension is going to be with us for as long as I can see into the foreseeable future. It’s going to be a really exciting time.”
Generative AI offers both a challenge and an opportunity: it can help employees learn faster, develop new skills and apply knowledge in real time, while boosting productivity and enhancing the customer experience. Here are some strategies financial services leaders are using to integrate generative AI into learning and day-to-day workflows.
Want more insights like these? Check out LemaondeLXP’s content hub: The Power of Customer Education and Employee Training
Learning to Deliver a Better Customer Experience
Call centers are a common testing ground for AI, not just for efficiency but as a training tool that helps employees build stronger customer skills, says Richard Winston, global industry lead for financial services at Slalom.
Modern AI systems can listen to conversations and analyze sentiment, detecting tone and intent to help staff understand customer needs more effectively. While banks have long used similar tools to streamline service, today’s AI enables employees to learn in real time — adapting and tailoring interactions while building their skills.
“When you get into the wealth management space, it’s been used to better prepare and to evaluate the conversation that you had,” Winston says.
AI also supports ongoing skill development for client-facing employees managing multiple accounts. Winston calls this “continuous personalization” — AI tracks client interactions over time, suggests ways to improve communication and highlights opportunities to better serve clients.
“It might pick up on a client saying ‘I’d really like to do something for my grandkids.’ Then it might suggest creating a college fund for them,” Winston says. “It’s a way to really personalize the experience and sustain that personalization over time.”
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Chapman observed that small business account teams — not product or development teams — are among the highest AI adopters at Grasshopper, using tools to improve both efficiency and the quality of client engagement.
“We’ve got small business account closers who are using Gemini specifically to help them more efficiently engage in a larger number of deals in a personalized manner,” Chapman says.
Bank employees need to develop new skills to use AI tools effectively, including staying fully engaged with customers while incorporating real-time AI feedback to deliver faster, more personalized service, Winston adds.
Each conversation becomes an opportunity to practice, adapt and refine their approach. Over time, this continuous learning helps staff handle more complex scenarios, communicate more effectively, and deliver a consistently higher-quality experience — turning day-to-day client interactions into a driver of workforce development.
Training in a Simulated Environment with AI
Some companies are piloting AI roleplays, allowing service representatives to practice customer conversations in a safe, simulated environment before they face real clients. This can be a good way for workers to engage with customers — and fail — without risking real business.
“The analogy is a flight simulator, you don’t want the first time they do it to be in conversation with a real customer,” Winston says. “You’ve got to build training scenarios.”
Fortunately, generative AI tools are well-suited for role-playing and even platforms like ChatGPT or Gemini can be leveraged to support this type of simulated training.
Bank of America’s The Academy, the bank’s onboarding and professional development organization, uses AI-driven conversation simulators to help employees practice client interactions and receive real-time feedback. Last year, employees completed over 1 million simulations, with many reporting that the practice improved their ability to deliver consistent, high-quality service.
By practicing in these AI-powered “flight simulators,” staff can develop stronger customer engagement strategies, handle complex scenarios more effectively and ultimately deliver a more polished and personalized experience when interacting with real clients.
Building an AI-Ready Culture
Not all employees are immediately ready to embrace generative AI tools. Some may be hesitant to integrate them into their daily work or worry that the technology could replace their roles.
Successful adoption hinges on building trust and addressing these concerns directly. Clear communication about the purpose of AI initiatives helps employees see how the tools support broader business goals, while ongoing feedback loops give them a voice as they adapt to new ways of working.
At Grasshopper, Chapman’s team pairs experienced AI users with colleagues who may be less comfortable with the technology. This hands-on mentorship allows employees to learn in real time, get questions answered and discover new ways to leverage AI in their day-to-day roles.
Executives should also plan for ongoing adoption cycles. Implementing AI isn’t a one-time effort — it demands continuous adjustments, retraining and fine-tuning as the technology evolves. Equally important is giving employees regular opportunities to share feedback with leadership throughout the process, Chapman adds.
Another key element is setting clear parameters for how AI tools should be used. Employees are more likely to adopt new technology confidently when they understand both the possibilities and the boundaries. This includes guidance on data privacy, which tasks are appropriate for AI support, and where human judgment remains essential. Establishing these guardrails not only reduces uncertainty and risk, but also helps employees experiment with the tools in ways that enhance learning and productivity without compromising compliance or security.
Measuring the Impact on Learning and Development
Tracking the impact of AI on learning and development can be tricky, but banks are finding creative ways to measure these benefits. Some track adoption rates and usage patterns to see how employees are integrating AI into daily workflows and learning processes. Others use customer feedback and Net Promoter Scores to understand how AI-enhanced learning translates into service improvements. On an individual level, metrics like loan officers processing more applications or service reps resolving issues faster highlight how AI can support skill growth and productivity.
The focus is shifting from cost-cutting to opportunity creation, Lele says. AI is being recognized not just for efficiency gains, but for its ability to elevate employee learning, empower teams and enhance the customer experience. For executives, success means looking beyond spreadsheets and headcount and embracing technology as a way to nurture talent, strengthen capabilities and drive long-term growth.
“The majority of our clients are focused more on improving the quality of the employment experience for their staff,” Lele says. “Making working at the institution much better than working somewhere else.”
