By: Maria Williams
Since its global appearance in 2020, generative AI has grown rapidly in the past few years. The worldwide generative AI market is expected to reach $36 billion in value during 2024 and a shocking $356 billion by 2030. With a CAGR of 46.47%, generative AI’s market size has doubled several times as more powerful products go live.
Despite the onslaught of innovative platforms leveraging AI, some historic shortcomings have been left unaddressed. In finance, where asset-based lending is gaining momentum in private markets, data has become an issue. This emerging investment opportunity is growing in popularity because of its variety and ability to hedge investments against worsening inflation and interest rates.
Anirudh Badam and Vijay Krishnamurthy, co-founders of alloan.ai, a virtual assistant powered by generative AI, hope to evolve asset-based finance with smart solutions. The platform’s product set to launch in October, potentially helps investment firms better extract value from their data and develop more competitive investment strategies. Integrating alloan.ai into a fund’s workflow drives organizational growth and innovation, positioning companies positively amid increased market volatility.
Co-founders Anirudh and Vijay were inspired to build alloan.ai after recognizing that few investment firms were prepared for generative AI disruptions. This realization, coupled with the barriers for smaller players to access data scientists, pushed the pair to create an on-the-ground approach delivering critical insights to portfolio managers on the frontlines. The project has quickly moved from ideation into reality. alloan.ai is currently being piloted by several private investment firms to test its features. The platform is well on its way to potentially becoming a leading tool for portfolio managers globally.
CTO Anirudh is a computer scientist turned technologist, determined to create intelligent systems that resolve some of the pressing commercial challenges. Prior to co-founding alloan.ai, Anirudh developed new memory technologies, data center storage systems, and other breakthroughs that hold more than 80 patents, peer-reviewed publications, and prestigious awards.
Since his days in graduate school, Anirudh has used machine learning and data-led approaches to pioneer cutting-edge technology licensed by some of the profitable companies. His PhD research was recognized as one of the Emerging Technologies of 2009 by MIT Technology Review Magazine. Anirudh has published numerous papers on computer science and patented various ideas over the past 15 years. In collaboration with CEO Vijay, the pair are committed to disrupting the finance world.
Vijay is a seasoned investment strategist in asset-based finance. He specializes in AI and structured products and possesses over a decade of academic research and experience in portfolio management. He has used this knowledge to be a founding member and research strategist for multiple successful exits at a leading investment firm in Pennsylvania. Vijay has also been awarded the William Larimer Fellowship for his dedication to reengineering finance with the application of machine learning and AI.
Taking on the burden of digitizing investment firms has been challenging for alloan.ai. The startup’s team is working on overdrive to compete with multinational competitors possessing more talent and capital. Alongside these struggles, alloan.ai must continuously evolve its tech suite to match the rapid release of newer, more effective generative AI technologies. Maintaining a clear vision of the company’s goals has mitigated some of these obstacles. Introducing technological disruptions has also been vital for alloan.ai’s growth. The company has been selected among the exceptional AI startups of 2024 by The Top 100 Magazine for its visionary products.
Despite seemingly insurmountable barriers to success, alloan.ai will be launching its virtual assistant in October. This accomplishment signifies a potential moment for the evolution of asset-based finance and portfolio management.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research and consult with a financial advisor before making any investment decisions. The opinions and claims made in this article are those of the authors and do not constitute guarantees of future outcomes.
Published by: Nelly Chavez
