Robinhood Markets Inc. has agreed to acquire Pluto Capital Inc., the artificial intelligence research platform.
As a result of the implementation of the mentioned deal, the new owner of the specified platform will provide the retail brokerage’s users with more tailored investment strategies and analytical materials.
Pluto was founded by Jacob Sansbury. This company has become well-known in the professional environment as a result of the launch of its personalized investment consultations using artificial intelligence and real-time analytics. The terms of the deal for the transfer of Pluto to the ownership structure of Robinhood have not yet been announced.
Mayank Agarwal, Robinhood’s vice president of engineering, said on Monday, July 1, that the company founded by Jacob Sansbury has built an impressive platform that is highly regarded in the financial services industry. Also in this context, it was underlined that Pluto’s experience in the area of artificial intelligence, combined with the desire of the new owner of this firm to democratize finance, will complement efforts to provide AI-based tools to customers.
It is worth noting that against the background of the active spread of machine intelligence technologies, the relevance of cybersecurity issues has increased. Scammers also have access to artificial intelligence. In this case, user awareness is important. For example, a query in Internet search systems such as how to know if my camera is hacked will allow anyone to get information about signs of unauthorized access to the device.
In recent years, Robinhood has expanded the scope of services, including cryptocurrency, retirement products, and credit cards. The company continues to be focused on average retail traders. In the mentioned area, Pluto can help Robinhood by performing activities to analyze updated market information and make investment recommendations.
Jacob Sansbury says that it’s important to give access to services very democratically to everyone and notes that there will be no thresholds or gates.
