PANews reported on July 2 that according to Cointelegraph, Robinhood users will soon be able to use AI tools to make smarter trades after the company announced the acquisition of AI-driven investment research company Pluto Capital. Robinhood said in a statement on July 1 that Pluto's AI will provide Robinhood traders with personalized investment strategies, data analysis tools and real-time insights to help them "make smart decisions quickly and confidently." The acquisition will also allow Pluto's founder and CEO Jacob Sansbury to join Robinhood to assist in developing product roadmaps and integrating AI technology.
According to Robinhood, the AI tool will help optimize investors' portfolios by evaluating each Robinhood user's risk tolerance, investment goals, and past trading records. Pluto's large language model can access global financial data in real time, including stock prices, news articles, company financials, and reports and filings with the U.S. Securities and Exchange Commission, to "identify trends and opportunities faster, providing investors with a competitive advantage."
