Upstart Stock – A Play on AI-Powered Consumer Lending
Artificial intelligence (AI) is becoming so pervasive that it now comes in 28 different flavors, each of which has companies claiming to operate in that space. Any entrepreneur knows there’s a bit of “fake it until you make it” going on in all startups, but at some point, you need to show traction. In the world of AI, traction means demonstrating that you can add exponential value. Investors are pouring money into AI because they’re expecting exponential returns.
If you’re a B2C company that offers financial services that come with any risk of loss, you better be using AI to mitigate those losses, or some startup will figure it out for you. For example, auto insurance companies can make more money if they insure drivers who are less likely to get into accidents. Fintech companies like Root Insurance use AI and big data to avoid insuring drivers who are inclined to crash into things. What Root Insurance did for insurance, Upstart wants to do for consumer lending.
About Upstart Stock
Founded in 2012, San Francisco startup Upstart has taken in just over $144 million in fundin
