Use of AI technology to disrupt how you invest in stock market
Using Artificial Intelligence in Business and investing money.? Sounds strange as well as new, right.? Well, this is the reality now. Allowing AI to help you invest your money in the stock market and to understand the business better.
Founded by Kanika Agarwal, Atanuu Agarwal, and Nikhil Hooda, Mumbai-based Upside AI is one of the first companies in India that uses technology to comprehend, understand and buy companies that are in demand in the stock market. Upside AI uses machine learning to make better decisions in Investing rather than humans, that too for a long term period.
Coming from a family of businessmen, Kanika also decided to follow this route of entrepreneurship after gathering experience from many big companies over some time of 11 years! Having a lot of knowledge and information about how business and the stock market works along with investing and financing, she decided to set something of her own along with her co-founders whom she met during her Job life and that's how Upside AI was created.
The foremost important principle of Upside AI is that technology makes better decisions than human beings and incorporating technology into business is no less than an incredible idea!
Since Machines are unbiased and don't follow any ' Human Emotions' AI helps to make perfect decisions for the long run.
Nikhil and Atanu being the co-founder have experience in Computer Science as well as in Material science which helped Kanika a lot in giving Upside AI a shape. All the codes are written by Nikhil himself. And when science meets with commerce, it surely gives rise to something great and this company is a result of the same.
Nowadays, technology plays a huge role in investing and already about 60% of the US markets are technology-driven. Kanika along with her co-founders had this view of bringing this thing into India as it wasn't that popular here. While they knew that technology won't play a big role in India but they had this impression that it can do wonders if implemented properly in India.
The process of giving shape Upside AI began in 2017 and had their first product ready by 2018 and after a year of testing they finally released it in 2019, in the market. And after that, there has been no turning back and the response is amazing! By September 30, 2020, Upside AI has been able to deliver 24 percent net of fees to all its investors, while Index NIFTY 500 has delivered only one percent.
How does AI help in investing money?
The working of Upside AI is such that they feed P&L data, balance sheet, and cash flow into the machines. The AI algorithm helps to understand companies that are not only essentially good but are also in demand in the stock market. It gives a comparative study on which companies to invest in.
Recently, they have opened their flagship portfolio management services (PMS) product to retail investors to allow technology to modify financing off from humans.
Lastly, Kanika is surely a self made women and her advice for all the forthcoming women entrepreneurs is to have that faith and belief in oneself, and having the ability to ask what they want.