VR Training Yields Promising Returns

This year, Bank of America training programs are entering virtual reality. The financial institution has announced plans to roll out 20 VR-powered learning programs for its 50,000 associates through The Academy, its learning division.

Aided by VR headsets, team members at Bank of America's 4,300 locations will be able to practice routine and rudimentary transactions, such as deposits and withdrawals. Training opportunities also will explore soft skills, where team members will practice using empathy to handle difficult conversations and interact with customers. To ensure high-engagement learning experiences for associates, the new programs will include a host of role-playing activities supported by artificial intelligence technology.

This enterprise-wide move comes after the bank piloted the programs with 400 employees. The company reports that 97 percent of the pilot participants felt more comfortable performing their tasks after completing the simulations.

John Jordan, who leads The Academy, says, "VR is highly effective at helping teammates build and retain new skills and it is one of many ways we are using technology to support internal mobility and provide best-in-class learning opportunities."