LangChain is a conversational AI framework that provides memory modules to help bots understand the context of a conversation. One of these modules is the Entity Memory, a more complex type of memory that extracts and summarizes entities from the conversation.
By default, LLMs, Chains and Agents are stateless. They operate independently on each incoming query, without retaining any memory of previous interactions. However, in certain applications like chatbots, it is crucial to remember past conversations in both the short and long term. This is where the Memory feature comes into play.