AI does make product sound more interesting. But it also helps users to understand what they get. For example when I tested the first prototype of Nova, people were confused to see recommended dates. But when introducing Nova as an AI, people expect the app the app to crunch all their numbers and come up with a recommendation - hopefully smart. So the term AI fits their mental model, and they also understand that the recommendation doesn’t come out of the blue, but is based on their data. So they also understand that they may need to recategorise some transactions.
Decision trees and linear regressions are within the scope Machine learning Yet we could argue it’s automation.
Developing machine learning models require tons of data that we don’t have since we’re brand new. So we try to use as much automation as possible. But we had to calibrate some machine learning models because not problem can be solved deterministically.
AI can be very poweful. The problem is that most companies use machine learning to make people spend money (have you watched the Social Dilema?) but I believe we reached the stage where the AI of tech companies have become too strong. Our lizard brain wasn’t designed to thrive in a world of overabundance where we see temptation to spend money non-stop.
So I really want to rebalance the force and build the AI force to help people save and experience the benefit of delayed gratification.
Oh I see what you mean. We designed the Accounts screen to be the place you manage your current account + credit card balance. It’s easy to forget about credit card when you don’t add the negative card balance to the current account.
What do you think of the circular progress bar in the Goals screen?
If you want to track how your month is doing, have a look at this video.
I think I’m just trying to use the feature in a way that’s not intended so I won’t worry about that for now.
I do like the way it’s designed to be integrated with Accounts chart. I can see why it’s useful to set a date for the goal, although if I keep missing it then obviously I’m going to have to update the target date.
This is what I was wondering - it’d be good if I could see what % I’d have to hit in order to reach each level in the app I see this now, I missed the Income Saved label before.
By the way, it’d be good if the app remembered which category I personally applied to a merchant’s transaction and applied the same category automatically going forwards (this mirror’s Monzo’s functionality).
One of the goals (no pun) is to help people realise the impact of their spending towards their goals. For example overspending may delay a goal by 1 month, 2 months, etc… Hopefully, it also shows the value of saving money for what’s meaningful.
When you recategorise a transaction, Nova always asks whether you can to recategorise similar transactions. If you answer yes, it will automatically do it going forward. Isn’t it the behaviour you expect?
By the way, do you still want to track your goals progression through the Accounts chart, or are you happy with the circular charts in Goals?
Yes that would be really a good user experience. We could easily do it if Monzo includes the transactions notes as metada in the Open Banking APIs.
team, if you’re reading this, can you please share the suggestion to your engineering team?
We called it Fun - it’s shorter. Did you find it?
I tried this morning with Green and it seemed to work. Could you retry? I’ll escalate the issue if it persists.
True. Amazon has several legal entities and uses several merchant identifiers. It depends if you buy from Amazon marketplace, etc… We can try to unify that in the future.
I was referring to our conversation where you liked to toggle on all your accounts in the Accounts chart to track your savings progress . Do you still want to do it after a day of use, or are you happy tracking your goals in the Goals screen?
@Dunsford awesome, I’ll share that with homebox so they could fix it and will let you know.
@RogerB That’s possible, the web app is at an early stage. This was required many times so we mostly want to know if it’s something that people really want to use before we invest in making it as good as the app.
Have you tried to connect First Direct through the app?
Ah I see, I would still like to keep all of my accounts switched on in that chart tbh because the line graph gives me a good sense of whether my savings are growing / decreasing over time and by how much.