Robinhood Acquires AI Investment Research Tool Pluto to Provide User Data Analysis and Customized Investment Strategies
US online brokerage Robinhood announced yesterday that it has acquired the AI-driven investment research platform Pluto to enhance user data analysis and provide personalized investment strategies based on user needs and goals. The acquisition aims to usher in a new era of intelligent, data-driven investment for investors on Robinhood. Pluto is known for providing rich and real-time data, including news, stock prices, company research reports, and financial information, catering to the needs of retail investors and offering highly customized investment strategies based on customer demand and financial goals. The acquisition will also see Pluto’s founder and CEO Jacob Sansbury join the Robinhood team to assist in product development and integration of AI technology and features. Robinhood has been actively expanding its business and seeking to diversify its product offerings. Just last month, the company made its largest acquisition to date, acquiring the European cryptocurrency exchange Bitstamp for about $200 million in cash. Meanwhile, leading companies globally are also actively integrating AI into their products and services to gain higher customer retention and develop products with a competitive edge.
