ArtificialIntelligence

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Better Digital Banking Experiences with AI and MongoDB

Interactive banking represents a new era in financial services where customers engage with digital platforms that anticipate, understand, and meet their needs in real-time. This approach encompasses AI-driven technologies such as chatbots, virtual assistants, and predictive analytics that allow banks to enhance digital self-service while delivering personalized, context-aware interactions. According to Accenture’s 2023 consumer banking study , 44% of consumers aged 18-44 reported difficulty accessing human support when needed, underscoring the demand for more responsive digital solutions that help bridge this gap between customers and financial services. Generative AI technologies like chatbots and virtual assistants can fill this need by instantly addressing inquiries, providing tailored financial advice, and anticipating future needs. This shift has tremendous growth potential; the global chatbot market is expected to grow at a CAGR of 23.3% from 2023 to 2030 , with the financial sector experiencing the fastest growth rate of 24.0%. This shift is more than just a convenience; it aims to create a smarter, more engaging, and intuitive banking journey for every user. Simplifying self-service banking with AI Navigating daily banking activities like transfers, payments, and withdrawals can often raise immediate questions for customers: “Can I overdraft my account?” “What will the penalties be?” or “How can I avoid these fees?” While the answers usually lie within the bank’s terms and conditions, these documents are often dense, complex, and overwhelming for the average user. At the same time, customers value their independence and want to handle their banking needs through self-service channels, but wading through extensive fine print isn't what they signed up for. By integrating AI-driven advisors into the digital banking experience, banks can provide a seamless, in-app solution that delivers instant, relevant answers. This removes the need for customers to leave the app to sift through pages of bank documentation in search of answers, or worse, endure the inconvenience of calling customer service. The result is a smoother and user-friendly interaction, where customers feel supported in their self-service journey, free from the frustration of navigating traditional, cumbersome information sources. The entire experience remains within the application, enhancing convenience and efficiency. Solution overview This AI-driven solution enhances the self-service experience in digital banking by applying Retrieval-Augmented Generation (RAG) principles, which combine the power of generative AI with reliable information retrieval, ensuring that the chatbot provides accurate, contextually relevant responses. The approach begins by processing dense, text-heavy documents, like terms and conditions, often the source of customer inquiries. These documents are divided into smaller, manageable chunks vectorized to create searchable data representations. Storing these vectorized chunks in MongoDB Atlas allows for efficient querying using MongoDB Atlas Vector Search , making it possible to instantly retrieve relevant information based on the customer’s question. Figure 1: Detailed solution architecture When a customer inputs a question in the banking app, the system quickly identifies and retrieves the most relevant chunks using semantic search. The AI then uses this information to generate clear, contextually relevant answers within the app, enabling a smooth, frustration-free experience without requiring customers to sift through dense documents or contact support. Figure 2: Leafy Bank mock-up chatbot in action How MongoDB supports AI-driven banking solutions MongoDB offers unique capabilities that empower financial institutions to build and scale AI-driven applications. Unified data model for flexibility: MongoDB’s flexible document model unifies structured and unstructured data, creating a consistent dataset that enhances the AI’s ability to understand and respond to complex queries. This model enables financial institutions to store and manage customer data, transaction history, and document content within a single system, streamlining interactions and making AI responses more contextually relevant. Vector search for enhanced querying: MongoDB Atlas Vector Search makes it easy to perform semantic searches on vectorized document chunks, quickly retrieving the most relevant information to answer user questions. This capability allows the AI to find precise answers within dense documents, enhancing the self-service experience for customers. Scalable integration with AI models: MongoDB is designed to work seamlessly with leading AI frameworks, allowing banks to integrate and scale AI applications quickly and efficiently. By aligning MongoDB Atlas with cloud-based LLM providers, banks can use the best tools available to interpret and respond to customer queries accurately, meeting demand with responsive, real-time answers. High performance and cost efficiency: MongoDB’s multi-cloud, developer-friendly platform allows financial institutions to innovate without costly infrastructure changes. It’s built to scale as data and AI needs to grow, ensuring banks can continually improve the customer experience with minimal disruptions. MongoDB’s built-in scalability allows banks to expand their AI capabilities effortlessly, offering a future-proof foundation for digital banking. Building future-proof applications Implementing generative AI presents several advantages, not only for end-users of the interactive banking applications but also for financial institutions: Enhanced user experience encourages customer satisfaction, ensures retention, boosts reputation, and reduces customer turnover while unlocking new opportunities for cross-selling and up-selling to increase revenue, drive growth and elevate customer value. Moreover, adopting AI-driven initiatives prepares the groundwork for businesses to develop innovative, creative, and future-proof applications to address customer needs and upgrade business applications with features that are shaping the industry and will continue to do so, here are some examples: Summarize and categorize transactional information by powering applications with MongoDB’s Real-Time Analytics . Understand and find trends based on customer behavior that could positively impact and leverage fraud prevention , anti-money laundering (AML) , and credit card application (just to mention a few). Offering investing, budgeting, and loan assessments through AI-powered conversational banking experience. In today’s data-driven world, companies face increasing pressure to stay ahead of rapid technological advancements and ever-evolving customer demands. Now more than ever, businesses must deliver intuitive, robust, and high-performing services through their applications to remain competitive and meet user expectations. Luckily, MongoDB provides businesses with comprehensive reference architectures for building generative AI applications, an end-to-end technology stack that includes integrations with leading technology providers, professional services, and a coordinated support system through the MongoDB AI Applications Program (MAAP) . By building AI-enriched applications with the leading multi-cloud developer data platform, companies can leverage low-cost, efficient solutions through MongoDB’s flexible and scalable document model which empowers businesses to unify real-time, operational, unstructured, and AI-related data, extending and customizing their applications to seize upcoming technological opportunities. Check out these additional resources to get started on your AI journey with MongoDB: How Leading Industries are Transforming with AI and MongoDB Atlas - E-book Our Solutions Library is where you can learn about different use cases for gen AI and other interesting topics that are applied to financial services and many other industries.

November 26, 2024

AI-Driven Noise Analysis for Automotive Diagnostics

Aftersales service is a crucial revenue stream for the automotive industry, with leading manufacturers executing repairs through their dealer networks. One global automotive giant recently embarked on an ambitious project to revolutionize their diagnostic process. Their project—which aimed to increase efficiency, customer satisfaction, and revenue throughput—involved the development of an AI-powered solution that could quickly analyze engine sounds and compare them to a database of known problems, significantly reducing diagnostic times for complex engine issues. Traditional diagnostic methods can be time-consuming, expensive, and imprecise, especially for complex engine issues. MongoDB’s client in automotive manufacturing envisioned an AI-powered solution that could quickly analyze engine sounds and compare them to a database of known problems, significantly reducing diagnostic times. Initial setbacks, then a fresh perspective Despite the client team's best efforts, the project faced significant challenges and setbacks during the nine-month prototype phase. Though the team struggled to produce reliable results, they were determined to make the project a success. At this point, MongoDB introduced its client to Pureinsights , a specialized gen AI implementation and MongoDB AI Application Program partner , to rethink the solution and to salvage the project. As new members of the project team, and as Pureinsights’s CTO and Lead Architect, respectively, we brought a fresh perspective to the challenge. Figure 1: Before and after the AI-powered noise diagnostic solution A pragmatic approach: Text before sound Upon review, we discovered that the project had initially started with a text-based approach before being persuaded to switch to sound analysis. The Pureinsights team recommended reverting to text analysis as a foundational step before tackling the more complex audio problem. This strategy involved: Collecting text descriptions of car problems from technicians and customers. Comparing these descriptions against a vast database of known issues already stored in MongoDB. Utilizing advanced natural language processing, semantic / vector search, and Retrieval Augmented Generation techniques to identify similar cases and potential solutions. Our team tested six different models for cross-lingual semantic similarity, ultimately settling on Google's Gecko model for its superior performance across 11 languages. Pushing boundaries: Integrating audio analysis With the text-based foundation in place, we turned to audio analysis. Pureinsights developed an innovative approach to the project by combining our AI expertise with insights from advanced sound analysis research. We drew inspiration from groundbreaking models that had gained renown for their ability to identify cities solely from background noise in audio files. This blend of AI knowledge and specialized audio analysis techniques resulted in a robust, scalable system capable of isolating and analyzing engine sounds from various recordings. We adapted these sophisticated audio analysis models, originally designed for urban sound identification, to the specific challenges of automotive diagnostics. These learnings and adaptations are also applicable to future use cases for AI-driven audio analysis across various industries. This expertise was crucial in developing a sophisticated audio analysis model capable of: Isolating engine and car noises from customer or technician recordings. Converting these isolated sounds into vectors. Using these vectors to search the manufacturer's existing database of known car problem sounds. At the heart of this solution is MongoDB’s powerful database technology. The system leverages MongoDB’s vector and document stores to manage over 200,000 case files. Each "document" is more akin to a folder or case file containing: Structured data about the vehicle and reported issue Sound samples of the problem Unstructured text describing the symptoms and context This unified approach allows for seamless comparison of text and audio descriptions of customer engine problems using MongoDB's native vector search technology. Encouraging progress and phased implementation The solution's text component has already been rolled out to several dealers, and the audio similarity feature will be integrated in late 2024. This phased approach allows for real-world testing and refinement before a full-scale deployment across the entire repair network. The client is taking a pragmatic, step-by-step approach to implementation. If the initial partial rollout with audio diagnostics proves successful, the plan is to expand the solution more broadly across the dealer network. This cautious (yet forward-thinking) strategy aligns with the automotive industry's move towards more data-driven maintenance practices. As the solution continues to evolve, the team remains focused on enhancing its core capabilities in text and audio analysis for current diagnostic needs. The manufacturer is committed to evaluating the real-world impact of these innovations before considering potential future enhancements. This measured approach ensures that each phase of the rollout delivers tangible benefits in efficiency, accuracy, and customer satisfaction. By prioritizing current diagnostic capabilities and adopting a phased implementation strategy, the automotive giant is paving the way for a new era of efficiency and customer service in their aftersales operations. The success of this initial rollout will inform future directions and potential expansions of the AI-powered diagnostic system. A new era in automotive diagnostics The automotive giant brought industry expertise and a clear vision for improving their aftersales service. MongoDB provided the robust, flexible data platform essential for managing and analyzing diverse, multi-modal data types at scale. We, at Pureinsights, served as the AI application specialist partner, contributing critical AI and machine learning expertise, and bringing fresh perspectives and innovative approaches. We believe our role was pivotal in rethinking the solution and salvaging the project at a crucial juncture. This synergy of strengths allowed the entire project team to overcome initial setbacks and develop a groundbreaking solution that combines cutting-edge AI technologies with MongoDB's powerful data management capabilities. The result is a diagnostic tool leveraging text and audio analysis to significantly reduce diagnostic times, increase customer satisfaction, and boost revenue through the dealer network. The project's success underscores several key lessons: The value of persistence and flexibility in tackling complex challenges The importance of choosing the right technology partners The power of combining domain expertise with technological innovation The benefits of a phased, iterative approach to implementation As industries continue to evolve in the age of AI and big data, this collaborative model—bringing together industry leaders, technology providers, and specialized AI partners—sets a new standard for innovation. It demonstrates how companies can leverage partnerships to turn ambitious visions into reality, creating solutions that drive business value while enhancing customer experiences. The future of automotive diagnostics—and AI-driven solutions across industries—looks brighter thanks to the combined efforts of forward-thinking enterprises, cutting-edge database technologies like MongoDB, and specialized AI partners like Pureinsights. As this solution continues to evolve and deploy across the global dealer network, it paves the way for a new era of efficiency, accuracy, and customer satisfaction in the automotive industry. This solution has the potential to not only revolutionize automotive diagnostics but also set a new standard for AI-driven solutions in other industries, demonstrating the power of collaboration and innovation. To deliver more solutions like this—and to accelerate gen AI application development for organizations at every stage of their AI journey—Pureinsights has joined the MongoDB AI Application Program (MAAP). Check out the MAAP page to learn more about the program and how MAAP ecosystem members like Pureinsights can help your organization accelerate time-to-market, minimize risks, and maximize the value of your AI investments.

September 27, 2024

Collaborating to Build AI Apps: MongoDB and Partners at Google Cloud Next '24

From April 9 to April 11, Las Vegas became the center of the tech world, as Google Cloud Next '24 took over the Mandalay Bay Convention Center—and the convention’s spotlight shined brightest on gen AI. Check out our AI resource page to learn more about building AI-powered apps with MongoDB. Between MongoDB’s big announcements with Google Cloud (which included an expanded collaboration to enhance building, scaling, and deploying GenAI applications using MongoDB Atlas Vector Search and Vertex AI ), industry sessions, and customer meetings, we offered in-booth lightning talks with leaders from four MongoDB partners—LangChain, LlamaIndex, Patronus AI, and Unstructured—who shared valuable insights and best practices with developers who want to embed AI into their existing applications or build new-generation apps powered by AI. Developing next-generation AI applications involves several challenges, including handling complex data sources, incorporating structured and unstructured data, and mitigating scalability and performance issues in processing and analyzing them. The lightning talks at Google Cloud Next ‘24 addressed some of these critical topics and presented practical solutions. One of the most popular sessions was from Harrison Chase , co-founder and CEO at LangChain , an open-source framework for building applications based on large language models (LLMs). Harrison provided tips on fixing your retrieval-augmented generation (RAG) pipeline when it fails, addressing the most common pitfalls of fact retrieval, non-semantic components, conflicting information, and other failure modes. Harrison recommended developers use LangChain templates for MongoDB Atlas to deploy RAG applications quickly. Meanwhile, LlamaIndex —an orchestration framework that integrates private and public data for building applications using LLMs—was represented by Simon Suo , co-founder and CTO, who discussed the complexities of advanced document RAG and the importance of using good data to perform better retrieval and parsing. He also highlighted MongoDB’s partnership with LlamaIndex, allowing for ingesting data into the MongoDB Atlas Vector database and retrieving the index from MongoDB Atlas via LlamaParse and LlamaCloud . Guillaume Nozière - Patronus AI Andrew Zane - Unstructured Amidst so many booths, activities, and competing programming, a range of developers from across industries showed up to these insightful sessions, where they could engage with experts, ask questions, and network in a casual setting. They also learned how our AI partners and MongoDB work together to offer complementary solutions to create a seamless gen AI development experience. We are grateful for LangChain, LlamaIndex, Patronus AI, and Unstructured's ongoing partnership. We look forward to expanding our collaboration to help our joint customers build the next generation of AI applications. To learn more about building AI-powered apps with MongoDB, check out our AI Resources Hub and stop by our Partner Ecosystem Catalog to read about our integrations with these and other AI partners.

April 23, 2024

Go from 0 to 1 to Enterprise-Ready with MongoDB Atlas and LLMs

This post is also available in: Deutsch , Français , Español , Português , Italiano , 한국어 , 简体中文 . Update 9/5/2024: Since this post was originally published in June, 2023, Atlas Vector Search has since gone generally available! The fastest and easiest way to go from 0 to 1 with MongoDB Atlas and LLMs is to try the Atlas Vector Search Quick Start . See how many companies, such as Okta , Novo Nordisk , and Anywhere Real Estate have since gone from 1 to enterprise-ready production applications. Creating compelling, truly differentiated experiences for your customers from generative AI-enriched applications means grounding artificial intelligence in truth. That truth comes from your data, more specifically, your most up-to-date operational data. Whether you’re providing hyper-personalized experiences with advanced semantic search or producing user-prompted content and conversations, MongoDB Atlas unifies operational, analytical and vector search data services to streamline embedding the power of LLMs and transformer models into your apps. Everyday, developers are building the next groundbreaking, transformative generative AI powered application. Commercial and open source LLMs are advancing at breakneck speed. The frameworks and tools to build around them are plentiful and democratize innovation. And yet taking these applications from prototype to enterprise-ready is the chasm development teams must cross. First, these large models can provide incorrect or uninformed answers, because the data they have access to is dated. There are two options to solve uninformed answers - fine-tuning a large model or providing it with long-term memory. However, doing so begets a second barrier - deploying an application around an informed LLM with the right security controls in place, and at the scale and performance users expect. Developers need a data platform that has the data model flexibility to adapt to the constantly changing unstructured and structured data that informs large models without the hindrance of rigid schemas. While fine-tuning a model is an option, it’s a cost-prohibitive one in terms of time and computational resources. This means developers need to be able present data as context to large models as part of prompts. They need to give these generative models long-term memory. We discuss a few examples of how to do so with various LLMs and generative AI frameworks below. Check out our AI resource page to learn more about building AI-powered apps with MongoDB. Five resources to get started with MongoDB Atlas and Large Language Models MongoDB Atlas makes it seamless to integrate leading generative AI services and systems such as the hyperscalers and open source LLMs and frameworks. By combining document and vector embedding data stores in one place via Atlas Database and Atlas Vector Search (preview), developers can accelerate building their generative AI-enriched applications that are grounded in the truth of operational data. Below are examples with how to work with popular LLM frameworks and MongoDB: 1. Get started with Atlas Vector Search (preview) and OpenAI for semantic search This tutorial walks you through the steps of performing semantic search on a sample movie dataset with MongoDB Atlas. First, you’ll set up an Atlas Trigger to make a call to an OpenAI API whenever a new document is inserted into your cluster, so as to convert it into a vector embedding. Then, you’ll perform a vector search query using Atlas Vector Search. There’s even a special bonus section for leveraging HuggingFace models. Read the tutorial . 2. Build a Gen AI-enriched chat app with your proprietary data using Llamalndex and MongoDB LlamaIndex provides a simple, flexible interface to connect LLMs with external data. This joint blog from LlamaIndex and MongoDB goes into more detail about why and how you might want to build your own chat app. The attached notebook in the blog provides a code walkthrough on how to query any PDF document using English language queries. Read the blog . 3. See the docs for how to use Atlas Vector Search (preview) as a vector store with LangChain As stated in the partnership announcement blog post, LangChain and MongoDB Atlas are a natural fit, and it’s been demonstrated by the organic community enthusiasm which has led to several integrations in LangChain for MongoDB. In addition to now supporting Atlas Vector Search as a Vector Store there is already support to utilize MongoDB as a chat log history. Read the docs: python , javascript . 4. Generate predictions directly in MongoDB Atlas with MindsDB AI Collections MindsDB is an open-source machine learning platform that brings automated machine learning to the database. In this blog you’ll generate predictions directly in Atlas with MindsDB AI Collections, giving you the ability to consume predictions as regular data, query these predictions, and accelerate development speed by simplifying deployment work-flows. Read the blog . 5. Integrate HuggingFace transformer models into MongoDB Atlas with Atlas Triggers HuggingFace is an AI community that makes it easy to build, train and deploy machine learning models. Leveraging Atlas Triggers alongside HuggingFace allows you to easily react to changes in operational data that provides long-term memory to your models. Learn how to set up Triggers to automatically predict the sentiment of new documents in your MongoDB database and add them as additional fields to your documents. See the GitHub Repo . Figure 1: The sample app architecture shows how external, or proprietary, data provides long-term memory to an LLM and how the data flows from a user's input to an LLM-powered response. From prototype to production with MongoDB for generative AI-enriched apps MongoDB’s developer data platform built on Atlas provides a modern, optimized developer experience while also being battle tested by thousands of enterprises globally to perform at scale and securely. Whether you are building the next big thing at a startup or enterprise, Atlas enables you to: Accelerate building your generative AI-enriched applications that are grounded in the truth of operational data. Simplify your app architecture by leveraging a single platform that allows them to store app and vector data in the same place, react to changes in source data with serverless functions, and search across multiple data modalities for improving relevance and accuracy in responses that their apps generate. Easily evolve your gen AI-enriched apps with the flexibility of the document model while maintaining a simple, elegant developer experience. Seamlessly integrate leading AI services and systems such as the hyperscalers and open source LLMs and frameworks to stay competitive in dynamic markets. Build gen AI-enriched applications on a high performance, highly scalable operational database that's had a decade of validation over a wide variety of AI use cases. While these examples are the building blocks for something more innovative, MongoDB can help you go from concept to production to scale. Get started today by signing up for MongoDB Atlas free tier and integrating with your preferred frameworks and LLMs. If you’re interested in working with us more closely, check out our MongoDB AI Innovators program , which enables Artificial Intelligence innovation and showcases cutting-edge solutions from startups, customers, and partners.

June 22, 2023