US-based trading app Robinhood has announced the acquisition of Pluto, an AI-enabled investment research platform, in a strategic move to provide additional features to investors. This acquisition aims to offer Robinhood’s users more optimized and improved investment solutions.
Through this strategic acquisition, Robinhood intends to offer investors more optimized and improved solutions that can serve their needs and demands. Officials from Pluto are set to join Robinhood’s team to accelerate product development and support the integration of AI-enabled capabilities across the company’s platform.
According to Robinhood officials, Pluto’s expertise in artificial intelligence, combined with a commitment to democratizing finance, complements Robinhood’s efforts to provide AI-powered tools to customers. Pluto will collaborate with Robinhood to develop additional products that increase access to financial solutions such as wealth management and financial planning via AI.
By acquiring Pluto, Robinhood will be able to provide investors with access to improved data analysis capabilities that process and interpret market information more efficiently, offering large language models (LLMs) with access to real-time personal and global financial data. Pluto’s algorithms personalize investment tactics to individual user profiles, providing tailored recommendations based on factors such as risk tolerance, investment goals, and historical behavior. AI-powered analysis will enable investors to make informed decisions, continuously improving customer portfolios by balancing expansion and risk based on individual preferences and needs.