Both UiPath and Upstart Holdings have used artificial intelligence to support their businesses. With their great success and their huge market opportunities, purchasing these two artificial intelligence powerhouses before the end of the year would be a wise move.
1. Upstart redefines credit
Upstart redefines how banks use AI to determine the creditworthiness of a loan. Upstart gives banks a credit score that goes by thousands of data points to determine possible loan customers. Based on Upstart’s findings, 31 banks are lending, which has almost tripled this year.
Nearly all financial metric reports are growing by triple-digit percentages. Earnings in the third quarter went up by 250% from last year; trading volume exceeded $3.1 billion, increasing by 244%, and net income increased by 200% to $29 million.
Despite the company showing tremendous success, the stock price has dropped 46% from its previous highs. This could be a great buying opportunity. Upstart also forecasts an exemplary fourth quarter, with revenues of $260 million, 14% quarter-on-quarter and 225% year-over-year growth.
The company clearly expects tremendous growth that may continue into the upcoming quarters. With the addition of auto loans, Upstart is expecting to surpass $4.5 trillion.
Upstart is a very new company, and if it can keep attracting new customers, amassing data, and improving its artificial intelligence model, it may continue growing for years to come.
2. UiPath: Taking Artificial intelligence mainstream
UiPath aims to completely automate companies with its robotic automation process. It could be used for many tasks from simple compliance to application building. These RPAs are saving businesses a lot of time. Alphabet and NASA are two of UiPath’s customers.
According to Gartner, the company is a leader in RPA, and that’s reflected in its finances. Quarterly revenues ending on July 31st were up 40% to $196 million and yearly recurring revenues were up 60% to $727 million. The total loss was close to $100 million, as the company is taking advantage of $30 billion opportunity by 2024.
In short, the business has realized less than 3% of all opportunities. As a market leader, UiPath is willing to spend now to create new products and attract new customers in order to profit from the growth of its industry. The company has doubled its R & D spending year-on-year with the goal of continuing to be a leader in this field and benefiting from it over the next five years.
Waiting to invest in UiPath could cost you, now is a great time to purchase the stock.
Author: Scott Dowdy