AI Index / Upstart Holdings, Inc.
Upstart Holdings, Inc. (UPST)
Upstart -- a fintech company that generates revenue from personal loans, auto loans and small-dollar loans -- leverages AI tohroughout its operation, with models that enhance accuracy in credit pricing and fraud detection. The company’s Model 18 incorporates APR as both input and output, allowing for more precise predictions. With high levels of automation (91% of loans processed without manual intervention), Upstart relies on AI to streamline loan approvals and expand its lending operations.
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The opportunity for AI and credit is unimaginably large, and there's no one better positioned than Upstart to lead this $1 trillion industry to this exciting and inevitable direction.
- David Girouard
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Quotes from upstart Executives About Artificial Intelligence and Generative AI
Precise and rapid tuning to changing economic conditions is a foundational capability of Upstart AI, and we're confident this precision is winning hearts and minds for Upstart in the credit market right now.
- David Girouard
We believe that we have the industry's best AI for responding rapidly and precisely to changes in the environment, and this is a central reason why our partners have confidence in us.
- David Girouard
We're making rapid progress as the leader in AI-powered credit. The somewhat complicated macro economy we all see today is, in my view, the perfect opportunity to demonstrate the strength of our AI platform, and we're doing just that.
- David Girouard
Our rapid pace of process improvements makes me optimistic that we're on a path to an industry-leading home equity product.
- Paul Gu
Beyond calibration, Q3 was a productive foundation-building quarter with a number of technology improvements that will power our next phase of growth.
- Paul Gu
I'll wrap up my remarks with a few technological highlights that are driving growth in newer products. We've made rapid progress automating the process of getting a HELOC.
- Paul Gu
Advanced AI and underwriting ultimately need equally advanced AI and acquisition, and the successes this quarter were a big step towards that.
- Paul Gu