- Consumers may now utilize AI to their advantage while making financial investments.
- No information about the acquisition’s price has been made public.
The purchase of Pluto has been disclosed by Robinhood, a prominent player in the cryptocurrency market. Pluto is a revolutionary investment copilot powered by AI. In addition, the goal of this step is to improve the exchange’s products for individual investors by using powerful AI techniques. Therefore, consumers may now utilize AI to their advantage while making financial investments.
In a recent press release Mayank Agarwal, Vice President of Engineering at Robinhood stated:
“They have built an impressive platform that is highly regarded in the financial services industry. Importantly, their expertise in artificial intelligence coupled with a mission-aligned passion to democratize finance will complement our team’s effort to bring AI-powered tools to our customers.”
Competitive Edge
No information about the acquisition’s price has been made public. On the other hand, experts in the field think that Robinhood’s competitive advantage might be greatly boosted by the purchase. Investors looking for advanced tools are anticipated to be attracted to a broader selection of offerings. With the integration of Pluto’s advanced AI capabilities.
The innovative artificial intelligence (AI) technology developed by Pluto has been acknowledged by industry experts since CEO Jacob Sansbury took over. Furthermore, Sansbury declared his intention to join Robinhood with all enthusiasm.
Robinhood is the perfect place to develop solutions that use cutting-edge AI to make financial services like asset management and financial planning accessible to everyone, he said.
A plethora of real-time data is also provided by Pluto’s platform, which is meant to empower retail investors. Everything from headlines to stock prices to corporate reports and financials to the Securities and Exchange Commission (SEC) filings is at the user’s fingertips. Better financial selections may be made with the help of this extensive data.
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