Robinhood Adds AI-Powered Tools to Its Trading App with Latest Acquisition : Tech : Tech Times

Robinhood is now turning to AI to enhance its investing platform with the acquisition of Pluto Capital, Inc., an AI-powered research platform.

The move, announced on Monday, July 1, is intended to integrate advanced AI capabilities into the Robinhood app, giving users more sophisticated tools to manage their investments (via TechCrunch).

New AI tools to improve data analysis and add real-time information

Robinhood users will soon be able to identify market trends and investment opportunities more quickly thanks to Pluto’s advanced data analytics capabilities.

Pluto uses large language models (LLM) with real-time access to both global financial data and user personal data, allowing for more efficient processing and interpretation of market information.

This feature will enable investors to make informed decisions faster, optimizing their portfolios for better results. Real-time AI-powered analysis will help balance growth and risk according to individual preferences, improving the overall user experience on the Robinhood platform.

Personalized investment strategies

One of the distinguishing features of the Pluto platform is the ability to offer fully customized investment recommendations.

By analyzing individual factors such as risk tolerance, investment goals and historical behavior, Pluto algorithms can tailor investment strategies to the unique needs of each user.

This level of personalization is intended to help investors make more informed decisions and optimize their portfolios for better results.

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Pluto Founder Jacob Sansbury Joins Robinhood

Jacob Sansbury, founder of Pluto, will join Robinhood as part of the acquisition. Sansbury’s role will be to accelerate the adoption of AI technology on Robinhood’s platform.

Mayank Agarwal, vice president of engineering at Robinhood, emphasized that Sansbury’s expertise in artificial intelligence and commitment to providing access to finance for everyone aligns with Robinhood’s mission.

Agarwal said, “We are excited to welcome Pluto and Jacob Sansbury to Robinhood. They have built an impressive platform that is highly respected in the financial services industry.”

Sansbury expressed his enthusiasm for joining Robinhood, saying, “Robinhood is the perfect place to build products that democratize access to financial services, like wealth management and financial planning, using cutting-edge AI. I look forward to innovating at a company that has inspired me and so many others.”

Founded in 2021, Pluto has quickly made a name for itself in the financial services sector. The company has raised $4 million in multiple seed funding rounds and has a pre-funding valuation of $12 million, according to Pitchbook.

Robinhood faces service disruptions

In other news, Robinhood experienced a service outage on Monday, affecting more than 3,000 users, according to Downdetector, a platform that tracks outages based on user reports.

Robinhood acknowledged the issue and assured users that it was working to resolve it as quickly as possible. “We are experiencing an outage of service for some users and are working to resolve it as quickly as possible,” the company said in a post on X.

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