Since we built MyKAI, our banking bot for consumers, with our extensible KAI Banking platform, we can quickly design, test, iterate, and deploy more features. Kai launched in June and has been in a constant state of training and improving thanks to our sophisticated machine learning. Out the gate, Kai knew quite a lot about managing money and in the last month, we rolled out several features built upon our conversational AI foundation.
Keep an eye on spending
People rely on Kai to better understand and manage their finances, so we trained Kai to do more predictive, dynamic budgeting. Now, Kai can track your spending by categories and monitor spending levels for you. This new feature arms you with insights into how you’re spending your money and gives you an easy way to set a goal.
It all happens simply through your conversations with Kai. Just ask Kai how much you have spent in a category, like restaurants or gas, and Kai will offer to set an alert about spending in that category.
Kai understands your transactions in real-time, so you’ll see patterns in your spending while they’re developing. You’ll stay on top of them proactively, with no effort. It’s that easy.
How much did I spend eating out last week?
How much did I spend on travel in March?
How much did I spend on clothes in June?
How about July?
What was my largest concert ticket?
What did spend on Uber in New York?
Kai asks if you’d like to see the transactions. You can review all of them, or answer “no.”
Then, Kai asks:
“Would you like to set an alert? I can tell you when you’ve spent a certain amount on an expense category every month. No need to ask.”
You set a goal for the next month.
Kai lets you know when you’ve hit it.
Who, what, when and now where…
Now, Kai also understands where you spent your money. After one quick text, learn how much you spent on your last business trip or vacation. Kai will offer to break it down, and voilà—an expense report in the making, or a less expensive hotel next vacation.
Ask Kai: “How much did I spend in Vegas last weekend?” or “What were my expenses in NYC during Sept?”
And, a couple more…
Kai better understands income and expanded the range of ways it can track pay stubs and the like.
Ask Kai: “What was my income in 2015” or “How much did I make last month”
In addition to paying people via Venmo, Kai can also charge them on your behalf.
Ask Kai: “Charge email@example.com for rent” or “Collect $125 from Sasha for Airbnb deposit.
As we’ve described before, every time MyKAI improves, so does our platform, KAI Banking.
This is just the beginning – stay tuned for more smarts.