Trading Platform Robin Hood I am getting Artificial intelligence (AI) research service Pluto Capital.
According to Bloomberg News, the acquisition report The launch on Monday (July 1) is designed to provide Robinhood users with more customized investment strategies and analysis with the help of Pluto’s AI-driven personalized advice and real-time analytics.
“They’ve built a great platform. That is Highly regarded Financial Services industry,” Mayank Agarwal“Their expertise in artificial intelligence, combined with their passion for our mission to democratize finance, will complement our team’s efforts to provide AI-powered tools to our customers,” Robinhood’s vice president of engineering told Bloomberg.
As Bloomberg noted, Robinhood in recent years They have begun offering new services such as cryptocurrencies. Retirement Products and credit card.
Still, the company remains focused on the average individual investor. The acquisition of Pluto gives the company access to up-to-date market information and consumer insights. Own Providing investment advice to portfolios, a type of personalized advice typically available only to wealthy investors. access Pluto Capital founder and CEO Jacob Sansbury told Bloomberg he wants to change that.
“Threshold and no “The Gate,” he said in an interview, “is Very important for us Allowing access in a very democratic way everyone.”
The acquisition comes just weeks after Robinhood announced it. had acquired Cryptocurrency Exchanges Bitstamp For $200 million.
“Acquiring a global exchange Accelerate significantly “Robinhood Crypto is expanding globally,” the company said in a news release. June 6. “Bitstamp holds over 50 licenses and registrations worldwide. in “We will introduce customers from the EU, UK, US and Asia to Robinhood.”
The acquisition of Luxembourg-based Bitstamp marks Robinhood’s first institutional business and gives the company access to Bitstamp’s other institutional services, including white-label solution Bitstamp-as-a-service, institutional lending and staking, according to the announcement.
Elsewhere in the AI ​​space, PYMNTS on Monday The concept of “AI alignment” Or an AI system Execute In a beneficial way that is in line with human values.
“The importance of AI collaboration to the business world is rapidly becoming clear,” the report states. “As companies across sectors race to integrate AI into their core operations, experts warn that poorly connected AI systems could take a toll on revenue and consumer trust. Recent incidents such as AI-powered chatbots leaking sensitive customer data and facial recognition systems showing racial bias highlight these risks.”
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