Will the robot manage your money?
Dear followers, the stock market is changing, and trading systems are also upgrading, but Robinhood is taking it a step further, which once again puts the company in the media spotlight.
At its latest event, the retail trading giant not only presented upgrades, it unveiled a vision where artificial intelligence becomes every investor's 'co-pilot'.
Meet Cortex
Robinhood is embedding a new AI engine called Cortex deep within the app.
No longer just charts and numbers: the new system allows users to:
Trade in natural language: simply ask Cortex to buy or sell stocks and crypto, without navigating menus.
Accessible insights: the system analyzes the portfolio and explains what is happening in simple, clear language.
Smart portfolio view: a smart daily summary that includes a timeline, analysis of the factors causing portfolio fluctuations, and most interestingly, a direct performance comparison against the S&P 500.
The predictions market is growing wildly, and interesting upgrades are also being introduced there.
The revealed data is staggering: in less than a year, over 1 million users executed more than 11 billion contracts trades!
To fuel this growth, the company is launching:
Player contracts and custom 'combo' functions.
Dollar-denominated trading, limit orders, and full 24/7 availability.
In addition to the technology, a new newsletter has been launched, combining sports news, statistics, and daily market updates.
The goal here is clear
Turning predictions traders into highly knowledgeable individuals, both in terms of news and statistics; these are precisely the tools that can help traders bet on future predictions.
But behind the scenes?
This involves building an entire ecosystem that draws the trader/gambler into a whole world of gambling.
If you are not a gambler, you will read news and statistics that will make you believe 'this time I am right'.
This is a deep move designed to make traders 'believe' they can, which will lead to a further increase in predictions trading and, consequently, in Robinhood's profits.
Sneaky?
Perhaps, but if you are investing in the stock, perhaps you see it differently.