Kanika Agarrwal, Atanuu Agarrwal and their friend, Nikhil Hooda had collectively envisioned a dream towards which they started working in the year 2017. This dream was based on the idea that a third world country like India should also have access to the trade and investment possibilities that the developed nations enjoy on a daily basis. Investment in India has been a manual task since the beginning of time. These pioneers tried to revolutionize the world of stocks and investing with the help of their vision for such a market and the people benefited from it.
Among many other startups in Mumbai, Upside AI has dared to dream big and come through with it. They have put in their hard work, day in and day out to place the company where it is today, after 4 years of its conceptualization.
Dependence on Indian Stock Market Timings
The entire startup is dependent on the Indian stock market timings. The aim of the startup was to introduce AI in stock market. Back in the day, it was an impossible thing to even think of, but the incessant hard work of the team of three collectively paid off. There were many challenges that they faced. They carefully crossed every hurdle one after the other. The initial difficulty faced by the team of three was to get AI companies in India to invest in their program. They had to ensure the AI companies that were sure of what they were trying to do. All they had was a reference of their idea of it from the far West, and a will to make it happen in India. It was not something that was heard of till then. AI in stock market was not thought of in the Indian markets till then.
There was a lot of scepticism that prevailed. The AI companies were not sure how long it would take them to come up with something like that, or the validity of such an idea. They were not willing to lose out on more viable opportunities after investing in such a sector.
The biggest challenge they faced, according to Kanika Agarrwal was to build the AI algorithm. Since it was conceptualized as a bootstrapped startup right from the beginning, the entire blueprint of the company was dependent on the workings of the AI algorithm. It took them almost a year to build the basic AI program which would help them build the company as they had envisioned. In 2019, after a lot of testing and running the program, after a final beta testing, the founders got started with trying it out on external clients.
Convincing the external clients to have faith in their vision and leave their entire money at the hands of a computer program was quite an ordeal. In 2019, when India could not have seen such a thing coming, Upside AI tried to revolutionize the field of investment and stock trading. The AI program was built with the purpose of automatic investment in stocks and shares.
How To Invest In Stock Market With The Help Of The AI Program?
Upside AI made sure that their client base was fully informed regarding the workings of the system. The algorithm that would supposedly put their money in the right pockets was a bit difficult to trust in the first instance. After a few runs, the clients have come around to the idea of it. Upside AI claims to have provided 52% overall returns to their clients.
As a bootstrapped startup, the program was loaded into the system. Few inputs and data were provided. After the first few manual results, the algorithm started loading data on its own and reaching conclusions. Based on the investment pattern and the money allotted for investing by the clients, the AI algorithm chooses to invest on behalf of the client. The clients feed their balance sheet into the algorithm. Based on the acquired knowledge of the algorithm, it makes a detailed analysis of all the investments the investor should possibly make. Upside AI then makes a manual check of all the options and puts the clients’ money in the most suitable pocket among the options shortlisted by AI.
AI in Stock Trading
Even though AI has taken over in various fields, AI in stock trading still seemed like a far cry before 2017. Bit by bit, Kanika, Atanuu and Nikhil built their startup from scratch. Since their success in launching a perfectly functioning AI which guarantees returns for every trading move they make on behalf of their clients, they have planned to provide their clients with a new service, Retail Advisory Business. In this branch, if the business, Upside AI wishes to step up once more with respect to their surroundings. The startup now seeks to make this technology accessible to the entire country. Usually, such a technology is used for investors who have the biggest bills. For the investors investing as little as 30,000, no companies would go so far as to offer services of an AI.
Upside AI aims to be the pioneering in this field as well. Collaborating with a small case, they seek to bring in this facility for even the small investors. This startup had initiated this journey of investment with an aim of removing all errors while making an investment. Humans with their emotional bent of mind will always make errors in making decisions based on their biases and prejudices. AI has been introduced into the system of stock markets with the hope to make investment absolutely error-free. This would not just make things easier for the investors but would prove to be a huge win for the startup.
Being the first in this field is indeed a path-breaking journey. Kanika and her team of people have been able to bring something so unique to the table of the stock market and investment in India, that it was unbelievable towards the beginning. With time and patience, they communicated their vision to the investors. With a full proof blueprint of the startup, the investors invested in the making of the AI. Now, in the year 2021, AI in stock market is no more a wild goose chase. It is a reality, and reality better than many other realities.
Error-free investment is yet to be a thing written in stones. It would take several other updates on the AI to make its results absolutely free of error. There are no biases as is seen in the case of the decisions taken by humans. The system is purely based on data and analysis. With an aim such as that, Kanika Agarrwal, Atanuu Agarrwal and their friend, Nikhil Hooda embarked on a journey. Today, this journey serves hundreds of people across the country. Soon it will serve many more as they have set out to make it accessible to a wider range of people.