Knowledge Base Automation: Why Devexa is Turning Heads

Devexa has been updated with Knowledge Base Automation. She can now integrate complex knowledge bases like entire libraries, tutorials, and documentation— whatever a broker or bank needs— to provide immediate, expert, and personalized answers.

Why is this such an important update for the industry? 

To help you really understand the benefits, we’ve put together a crash course overview of Knowledge Base Automation. 

We’ll quickly take you through the basics to illustrate why knowledge base integration has a grip on the attention of the financial services industry.

What is Knowledge Base Automation?  

A knowledge base is a centralized library of information. Examples include resources like FAQs, guides, tutorials, and troubleshooting documentation.

When a library is automated, AI-powered chatbots can use this data in real-time, dramatically increasing the efficiency, accuracy, and responsiveness of information retrieval. 

From a broker’s perspective, it automates the process of agents needing to sift through documents and resources to provide answers to users. The user can interact with the content of the knowledge base via Devexa, by asking questions and receiving fast and precise

Are you already imagining what this could mean for the customer support experience? More on this soon! First, let’s get into how powerful Knowledge Base Automation works. 

GenAI

Even if you’re not well versed in the nitty-gritty technical details, it’s highly likely you’ve engaged with GenAI, perhaps you’re even regularly using AI-powered search engines.

GenAI is short for generative AI. Again the clue is in the name, it’s a type of artificial intelligence that can generate new content related to what it has been trained on. 

GenAI can understand context, and in turn, create relevant, quick answers. One of the most popular examples is of course OpenAI’s ChatGPT. 

Machine Learning (ML) Intent Classification

Machine Learning (ML) Intent Classification analyzes and categorizes the intent behind a user’s input. Normally the input is in the form of text or speech. 

These identified intentions are then used to retrieve information and provide contextually relevant and accurate answers— basically, a logical and helpful response that matches the user’s question. 

We all remember the good old days of chatbots when this wasn’t the case, and keywords and preset filter questions were used to direct our interactions. ‘Did you mean…’ Not a fun time. 

When we look at it through this lens and compare the two experiences (then and now), we see what ML brings to the table. A knowledge base for customer support with context analysis and intent classification is an influential skill set.

How Devexa uses ML intent classification for dynamic FAQs?

Traditional FAQs can quickly become outdated. They are also static and rigid, meaning they can’t adapt and improve, learning from user’s inputs. But, not anymore with ML intent classification in combination with GenAI. 

Devexa uses the two technologies to power her Knowledge Base Automation feature.

LLMs

LLMs (large language models) enable Devexa to generate responses that feel more natural and conversational, however, this can come at the cost of reduced predictability and control over the exact phrasing of answers.

Intents and FAQs

This cost is mitigated by combining a second approach: Intents and FAQs. This is less human-like but more deterministic and controllable. It allows Devexa to accurately classify user queries and provide precise, context-aware answers, as Devexa uses real market data and user data to process the requests.

Helpdesk automation: Why all the hype from brokers and banks

Helpdesk automation tools have become critical for competitive customer service delivery. 

By automating a large chunk of support tasks, a higher volume of interactions can be handled, at a higher quality. 

In a nutshell: faster resolution times, reduced workload for support staff, and improved overall customer satisfaction. 

Devexa and efficiency

Because Devexa can be easily trained on new information (like entire libraries and resources), she automatically categorizes incoming requests with precision. 

Common issues are resolved immediately. More complex queries are escalated to the appropriate agent or team. 

Have you also spotted the elephant in the room? Yep..reduced costs. 

Reducing operational costs with Devexa

Devexa can take on the role of entire support teams by removing the burden of repetitive queries. Businesses can allocate resources more effectively, focusing agents on tasks that require a human touch. 

This unlocks incredible potential for streamlining and expanding the operational capacities of firms with tight margins. 

The end of trading customer service as we knew it

For traders, Devexa is a personal assistant providing account and trading support. From curated newsfeeds based on activity and instruments held, to alerts and push notifications delivered to their messenger of choice, Devexa is the epitome of intelligent self-service. 

For brokers and banks, she is a customer support team, plus a marketing, sales, and onboarding assistant. She handles chats, launches targeted campaigns, sends KYC questionnaires, and requests feedback.

Personalized interactions are key to user experience. By understanding user preferences and behavior, Devexa tailors content and recommendations, to fuel relevant and engaging interactions.

Knowledge Base Automation use cases 

Okay, we’ve talked the talk, but now let’s hear about what all this looks like in practice with some real examples.

Knowledge Base Automation is versatile and can be applied across various scenarios to enhance the customer support experience.

Learning centers and tutorials

A brokerage firm can train Devexa with content from its online learning center, allowing users to get instant answers on trading strategies and market analysis. Users can interact with the customer knowledge base at their own pace. 

User manuals and documentation

Trading platforms, software providers, and fintech institutions can train Devexa with user manuals and documentation, helping clients troubleshoot issues and navigate their products without needing to engage with a support agent. 

Challenge rules

Prop trading firms can let Devexa take care of common queries about rules and terms of service. This eliminates delays and improves accuracy (for example when relaying conditions and stipulations that need to stick to precise legal wording). 

Client support resources

Training support agents on lengthy resources can provide inconsistent results. The quality of interactions is subject to how fast agents can recall and find the relevant information. Devexa removes this friction.

Conclusion

Pretty impressive potential, right? Devexa’s new feature creates untapped opportunities for brokers and financial institutions. From customer support to marketing; AI and automation in knowledge base management have the power to optimize every corner of a firm’s operations. 

If you’re keen to learn more about Devexa, the Devexperts team is always on hand to answer questions or organize a product tour. Simply reach out to us, and we’ll be in touch!