BudgetBot, an AI-Powered Personal Finance Assistant

Prompt Engineering
MVP of AI-based product
Image recognition
Voice recognition
Chat GPT 3,5
Amazon Rekognition
iOS speech recognition
Case Summary
BudgetBot is not just a budgeting tool, it's a responsive AI assistant that relieves users from the burden of tracking expenses manually. Whether a user takes a photo of a receipt or verbally inputs expenditures, BudgetBot cleverly organizes the data received into distinctive categories, simplifying personal financial management. It empowers users with insightful, actionable data, reshaping their understanding, and control of personal finances.
Voice Input
Users narrate their expenses to the bot, which utilizes a speech recognition model to log expenses in the database accurately.
Speech Expense Logging
Receipt Scanning
Alternatively, users can capture images of receipts. These images are processed through AWS, converting them to text for easy addition to the expense database.
Image Expense Logging
Spending Categorization and Editing
Once BudgetBot gathers expense data, AI categorizes them and allows manual adjustments for enhanced accuracy.
Detailed and Customizable Categorization
Expense Overview
A visual summary of expenses allows users to see at a glance where their money is going. The application offers insights into one's spending patterns by providing a detailed explanation of expenditures in each category.
In-depth Budget insights
Technical Explanation of AI Features
Native iOS speech recognition and Amazon Rekognition are used for simplified data input (speech and image recognition).
Upon gathering new expense data, the backend retrieves user information from the database and creates a user-specific prompt requesting ChatGPT to categorize expenses into predefined categories. Response is returned as a JSON structure, allowing structured data to be easily stored in the database, and displayed to the user.

Main Challenges

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Interpreting Expense Information from Receipts
Translating receipt photos to text with AWS and dividing this text into essential data points—item names and costs—required meticulous attention for efficient Chat GPT input.
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Designing Dynamic Prompts
Our focus is on crafting prompts that not only capture the right data within specific timeframes but also facilitate comprehensive budget analysis.
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Next steps
To enhance BudgetBot's functionality, we plan to incorporate:
Personalized Insights
Tailored summaries and budget-saving tips.
Enhanced Spending Analytics
More detailed analytics and personalized spending categories.
Widgets
App availability on Apple Watch and iPhone widgets for continuous tracking.

Use Cases

Insurance
Assists agents in capturing and categorizing documents like policies, claim forms, or damage reports.
Banking
Provides enterprises with detailed insights into company spending.
Fitness
Allows users to track and categorize calorie intake by scanning food receipts.

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Interested to implement a similar AI-driven solution?
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