Robinhood has acquired Pluto Capital, Inc., an AI-powered research platform, to enhance its investment platform with advanced artificial intelligence capabilities. This move aims to provide users with more sophisticated tools to manage their investments, including quicker identification of market trends and personalized investment recommendations. Pluto’s founder, Jacob Sansbury, will join Robinhood to accelerate the adoption of AI technologies within the platform. Despite this positive development, Robinhood experienced a service interruption affecting over 3,000 users, which the company is working to resolve. Pluto, founded in 2021, quickly gained recognition in the financial services sector and raised $4 million in seed funding rounds. The acquisition of Pluto aligns with Robinhood’s mission to make finance accessible to everyone through state-of-the-art AI. Sansbury expressed enthusiasm for joining Robinhood and looks forward to innovating at the company. Overall, the integration of Pluto’s AI capabilities is expected to optimize user experience on the Robinhood platform and help investors make more informed decisions.
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Source link: https://www.techtimes.com/amp/articles/306225/20240701/robinhood-adds-ai-powered-tools-investing-app-latest-acquisition.htm
Robinhood enhances investing app with AI tools through latest acquisition. #Fintech
