NASHVILLE, Tenn. — Wells Fargo is amping up its artificial intelligence project pipeline. 

The bank has 191 AI, machine learning and natural language processing features in the pipeline, with nearly half already in production,  Steve Hagerman, chief information officer of consumer technology at Wells Fargo, said at Bank Automation Summit U.S. 2024 on March 18.

For example, the $1.7 trillion bank is using AI in home lending processes to provide customers with predictability on when a mortgage will be processed, Hagerman said. AI has increased documentation accuracy by 10%, he added. 

The San Francisco-based bank is also using AI to help employees search for information within the organization, Hagerman said. 

“We have a help desk that [employees call] when a customer is in front of them, [employees] would call it to ask how do I do the following type of task,” Hagerman said. “Over 60% of these questions are arbitration procedure and policies,” and deploying AI for internal search functions can help increase productivity.