AI today feels like the internet circa 1996. Remember slow connections, big dreams, and endless possibilities? As MongoDB's Boris Bialek put it, we're still surfing the dial-up phase, but even at this early stage, AI is already shaking up heavily regulated industries in ways we’ve only just begun to imagine.
In the latest TEQ Shift Podcast, Boris shared real-world use cases of AI unlocking innovation in finance, healthcare, and insurance. Let’s dive into the tech-driven stories.
Listen to the podcast:
Financial Services: Turning Archives into Insights
Banks traditionally stored vast amounts of critical data in static archives—dusty, inert, and difficult to access quickly. The challenge was clear: data scattered across legacy compliance systems prevented timely responses to regulatory audits and hindered operational efficiency.
Using MongoDB’s flexible JSON data model it is possible to integrate disparate sources seamlessly. Using advanced techniques such as vector search and Retrieval-Augmented Generation (RAG), companies can turn these passive data archives into actionable, real-time intelligence hubs. The result? Banks now dynamically manage compliance and customer records, significantly reducing operational overhead and meeting regulatory requirements with unprecedented speed and precision.
CREATEQ pro tip: Enhance this robust architecture by incorporating API gateways and microservices. It’s your strategic shortcut for navigating complex regulatory environments.
Healthcare: Revolutionising Clinical Documentation
Novo Nordisk, a global pharmaceutical leader, faced an exhausting challenge: compiling clinical study reports took a staggering 15 weeks, consuming valuable time from highly skilled medical professionals. Despite efforts spanning a decade, this manual documentation process had only grown slower.
By integrating powerful tools such as LangChain for natural language processing, AWS Bedrock for scalable AI model deployments, and MongoDB’s vector search capabilities for precise indexing, Novo Nordisk radically streamlined their reporting. The new AI system reduced documentation time from weeks down to just 10 minutes. Doctors and medical writers were liberated from repetitive tasks, allowing them to focus on high-value, intellectually rewarding research and patient care activities.
CREATEQ insider advice: Further amplify your productivity by embedding automated compliance workflows to ensure each step stays fully traceable and audit-ready. It’s efficiency with confidence.
Insurance: Streamlining Claims and Reducing Fraud
Insurance companies operate under immense regulatory scrutiny, managing endless paperwork and labour-intensive claims processes. The challenge? Slow, manual reviews prone to human error and vulnerable to fraud.
To address these complexities, start by using MongoDB’s document-based architecture, enabling you to rapidly analyse vast numbers of claims. With efficient and scalable AI-driven processes, insurance providers swiftly identify fraudulent patterns and dramatically expedite claims settlement. Operational costs plummet, fraud detection improves, and customer satisfaction soars.
CREATEQ suggestion: Boost this system further by layering automated decision-making frameworks and detailed audit trails. It’s transparency at its finest, keeping regulators confident and clients happy.
Your Playbook for Regulated AI Success
Harnessing AI’s potential in regulated sectors starts with clarity in business objectives, impeccable data governance, and flexible technical architecture. Implementing JSON-powered real-time solutions ensures your business remains nimble, compliant, and scalable.
For additional insights and practical strategies on AI implementation, explore our comprehensive guide: AI Implementation Strategies.
AI isn’t just innovation—it’s your competitive advantage in regulated industries. Dial-up today, broadband tomorrow, the journey is just beginning.
