The applications for artificial intelligence are just starting to surface in everyday life. Sometimes, such algorithms can wreak havoc on public life (think: echo chambers on social media). But in other areas, AI can create a more level playing field.
The AI used by Upstart Holdings (NASDAQ: UPST) , for instance, is offering a better risk profile for lenders than traditional methods. Because of it, credit is available to a far wider populace, and lenders aren't losing money because of it. The stock has responded in kind, surging over 1,000% since its 2020 IPO.
But Upstart isn't the only company with a credible way of capitalizing on AI in the marketplace. Riskified (NYSE: RSKD) -- which went public just this summer -- is doing the same thing in e-commerce. It reduces fraud while increasing sales for companies that use its technology.
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If You Like Upstart Holdings, You'll Love This IPO Stock