+ How Morningstar built a trustworthy, AI-driven financial data + platform with Weaviate +
++ Morningstar chose Weaviate's vector database to build its highly + accurate and scalable Intelligence Engine Platform, offering users + reliable, AI-driven financial research tools and transparent, + dynamic document search capabilities. +
++ Over the last 40 years, Morningstar amassed an extensive + collection of proprietary financial data. Morningstar has sought + to further empower investors that rely on its data by developing + an advanced research assistant AI application. According to + Benjamin Barrett, Morningstar’s Head of Technology, Research + Products, building a chatbot on that data “looks like magic, but + when you start peeling back the layers of the onion, you have to + ask, is it actually accurate? Is it pulling the latest, greatest, + most relevant data? Are our answers robust and complete?” +
++ {' '} + As his engineering team worked with Morningstar’s Quantitative + Research team to build their Intelligence Engine Platform, they + had to ensure an incredibly high level of accuracy in order to + maintain their users’ trust. “We want to have one single source of + truth. Our whole mission is to empower investor success. And the + way to do that is to give them reliable, trustworthy financial + data.” +
+ ++ In early 2023, Morningstar saw early success in experiments with + LLMs and snippets of their own data. They quickly realized the + potential of using AI to harness decades of longform research + content and real-time data with RAG, and started their search for + the right vector database. +
+Why Morningstar chose Weaviate:
++ With Weaviate, Morningstar was able to build their{' '} + + Intelligence Engine Platform + + , a product which solves a challenge facing today’s financial + services firms: how to easily create and customize AI applications + built on a foundation of trusted financial data and research. The + Intelligence Engine also powers a variety of workflows, APIs, and + chat interfaces across Morningstar’s own product ecosystem – + including Mo, it’s investment research-assistant chatbot – for + both internal and external users. +
+ + ++ The Morningstar Intelligence Engine has allowed hundreds of + applications to be created in house that are powering internal use + cases and external workloads across our diverse portfolio of + products. +
++ Morningstar was able to launch their Weaviate-powered investment + research assistant, Mo, within weeks to empower both financial + professionals and individual investors to conduct investment + research with greater ease. +
++ Dynamic, context-aware document chunking and cited source + transparency improves the relevance, accuracy, and trustworthiness + of AI-generated answers. +
++ Internal users can create their own applications by building a + corpus of documents and using a chat interface to interact with + that information. +
++ “Through our Corpus API connected to Weaviate, users can build + very powerful, low latency search engines in minutes with little + to no code. Users can then also test different search algorithms + without having to worry about re-indexing their data or that + infrastructure at all.” +
+Aisis Julian
+ Senior Software Engineer, Morningstar ++ Morningstar, Inc. is a + leading global provider of independent investment insights. + Morningstar offers an extensive line of products and services for + individual investors, financial advisors, asset managers and + owners, retirement plan providers and sponsors, and institutional + investors in the debt and private capital markets. Morningstar + provides data and research insights on a wide range of investment + offerings, including managed investment products, publicly listed + companies, private capital markets, debt securities, and real-time + global market data. +
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