Robinhood Markets, a leader in retail brokerage, has recently finalised the acquisition of Pluto Capital, a prominent artificial intelligence research firm, according to a report from Bloomberg.
Pluto, established by Jacob Sansbury at the age of 24, has garnered attention for its innovative approach to investment advice, which leverages AI to offer personalized suggestions and real-time analytics.
Mayank Agarwal, Robinhood’s vice president of engineering, praised Pluto’s achievements, stating, “They have built an impressive platform that is highly regarded in the financial-services industry.
“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.”
Over the past few years, Robinhood has diversified its services to include options such as cryptocurrency trading, retirement planning products, and credit card offerings. Despite this expansion, the company continues to focus on the average retail trader. With Pluto’s capabilities, Robinhood aims to offer nuanced market analyses and tailored investment recommendations previously accessible primarily to affluent investors.
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