Following another strong quarterly earnings report and true to our AI roots and in the spirit of innovation, Pagaya CEO Gal Krubiner “invited” ChatGPT to the Company’s 1Q23 earnings call. For the first time ever, ChatGPT posed one question as if it were a sell-side analyst and suggested an answer as if it were the CEO of Pagaya.
Here’s what came back from ChatGPT with no edits made to the question or answer:
Question: How does Pagaya’s rapid growth in the auto business contribute to the company’s overall competitive position, and what opportunities do you see in this segment moving forward?
Answer: Thank you for your question. Pagaya’s rapid growth in the auto business has significantly contributed to our overall competitive position by expanding our network and strengthening our AI data moat. Our connection to over 20,000 dealerships, both franchise and independent, through our partnerships with major lenders has allowed us to access a vast amount of unique data, which in turn improves the power and accuracy of our AI models. This enables us to provide better underwriting solutions and drive growth for our partners. As for opportunities in this segment moving forward, we see tremendous potential in continuing to expand our partnerships and further scaling our auto business. Our recent addition of a large auto bank has already led to a 51% increase in total auto application volume evaluated by Pagaya’s network. This growth not only enhances our ability to serve our existing partners but also attracts new partners who recognize the value of our innovative underwriting technology.
To learn more about Pagaya’s Q1 2023 performance, read the full earnings report here