IntellectAI Unleashes AI at Scale With MongoDB
IntellectAI
, a business unit of
Intellect Design Arena
, is a trailblazer in AI.
Since 2019 the company has been using MongoDB to drive a number of innovative use cases in the banking, financial services, and insurance (BFSI) industry.
For example, Intellect Design Arena’s broader insurance business has been using
MongoDB Atlas
as a foundation for its architecture. Atlas’s flexibility enables Intellect Design Arena to manage varied and constantly evolving datasets and increase operational performance.
Building on this experience, the company looked at deepening its use of MongoDB Atlas’s unique AI and search capabilities for its new IntellectAI division.
IntellectAI Partner and Chief Technology Officer Deepak Dastrala spoke on the
MongoDB.local Mumbai stage in September 2024
. Dastrala shared how the company has built a powerful, scalable, and highly accurate AI platform-as-a-service offering,
Purple Fabric
, using MongoDB Atlas and
Atlas Vector Search
.
Using AI to generate actionable compliance insights for clients
Purple Fabric helps transform enterprise data into actionable AI insights and solutions by making data ready for retrieval-augmented generation (RAG). The platform collects and analyzes structured and unstructured enterprise data, policies, market data, regulatory information, and tacit knowledge to enable its AI Expert Agent System to achieve precise, goal-driven outcomes with accuracy and speed.
A significant part of IntellectAI’s work involves assessing environmental, social, and governance (ESG) compliance. This requires companies to monitor diverse nonfinancial factors such as child labor practices, supply chain ethics, and biodiversity.
“Historically, 80% to 85% of AI projects fail because people are still worried about the quality of the data. With Generative AI, which is often unstructured, this concern becomes even more significant,” said Deepak Dastrala.
According to Deepak Dastrala, the challenge today is less about building AI tools than about operationalizing AI effectively.
A prime example of this is IntellectAI’s work with one of the largest sovereign wealth funds in the world, which manages over $1.5 trillion across 9,000 companies.
The fund sought to utilize AI for making responsible investment decisions based on millions of unique data points across those companies, including compliance, risk prediction, and impact assessment.
This included processing both structured and unstructured data to enable the fund to make informed, real-time decisions.
“We had to process almost 10 million documents in more than 30 different data formats—text and image—and correlate both structured and unstructured data to provide those particular hard-to-find insights,” said Dastrala. “We ingested hundreds of millions of vectors across these documents, and this is where we truly understood the power of MongoDB.”
For example, by leveraging MongoDB's capabilities, including time series collections, IntellectAI simplifies the processing of unstructured and semi-structured data from companies' reports over various years, extracting key performance metrics and trends to enhance compliance insights.
“MongoDB Atlas and Vector Search give us flexibility around the schema and how we can turn particular data into knowledge,” Dastrala said.
For Dastrala, there are four unique advantages of working with MongoDB—particularly using MongoDB Atlas Vector Search—that other companies should consider when building long-term AI strategies: a unified data model, multimodality, dynamic data linking, and simplicity.
“For me, the unified data model is a really big thing because a stand-alone vector database will not help you. The kind of data that you will continue to ingest will increase, and there are no limits. So whatever choices that you make, you need to make the choices from the long-term perspective,” said Dastrala.
Delivering massive scale, driving more than 90% AI accuracy, and accelerating decision-making with MongoDB
Before IntellectAI built this ESG capability, its client relied on subject matter experts, but they could examine only a limited number of companies and datasets and were unable to scale their investigation of portfolios or information.
“If you want to do it at scale, you need proper enterprise support, and that’s where MongoDB became really handy for us. We are able to give 100% coverage and do what the ESG analysts were able to do for this organization almost a thousand times faster,” said Dastrala.
Previously, analysts could examine only between 100 and 150 companies. With MongoDB Atlas and Atlas Vector Search, Purple Fabric can now process information from over 8,000 companies across the world, covering different languages and delivering more than 90% accuracy.
“Generally, RAG will probably give you 80% to 85% accuracy. But in our case, we are talking about a fund deciding whether to invest billions or not in a company, so the accuracy should be 90% minimum,” said Dastrala. “What we are doing is not ‘simple search’; it is very contextual, and MongoDB helps us provide that high-dimension data.”
Concluding the presentation speech on the MongoDB.local stage, Dastrala reminded the audience why IntellectAI is using MongoDB’s unique capabilities to support its long-term vision: “Multimodality is very important because today we are using text and images, but tomorrow we might use audio, video, and more. And don’t forget, from a developer perspective, how important it is to keep the simplicity and leverage all the options that MongoDB provides.”
This is just the beginning for IntellectAI and its Purple Fabric platform.
“Because we are doing more and more with greater accuracy, our customers have started giving us more problems to solve. And this is absolutely happening at a scale [that] is unprecedented,” said Dastrala.
Using MongoDB Atlas to drive broader business benefits across Intellect Design
The success encountered with the Purple Fabric platform is leading Intellect Design’s broader business to look at MongoDB Atlas for more use cases.
Intellect Design is currently in the process of migrating more of its insurance and Wealth platforms onto MongoDB Atlas, as well as leveraging the product family to support the next phase of its app modernization strategy.
Using MongoDB Atlas, Intellect Design aims to improve resilience, support scalable growth, decrease time to market, and enhance data insights.
Head over to our product page to learn more about
MongoDB Atlas
.
To learn more about how MongoDB Atlas Vector Search can help you build or deepen your AI and search capabilities, visit our
Vector Search page
.
December 12, 2024