Researchers understand the importance of contextual memory and a lot of different paths are being explored by various AI researchers. Like most things related to understanding and mimicking human intelligence, it seems simple in general terms but frustratingly difficult in real terms. Humans have long and short term memory. We have sense memories of scents, and images and sounds. We attach varying levels of emotional significance to certain memories. We attach different levels of relevance and importance to different memories. We attach memories to specific places and people and times. A database of previous conversations misses all the nuances that people attach to memory. It may have some value to a chatbot but the idea as you have outlined it is not new. I am not being critical. It’s all in the implementation and I don’t know enough to vote yay or nay in your project. Good luck