HOODRobinhood Markets, Inc.

“we also believe making AI native to our workflows is just as fundamental to winning. So last quarter, if you remember, we shared the 9-figure efficiency benefits we've already generated in engineering and customer support. But we are now giving every team the tools and mandate to adopt AI into their daily workflows to drive productivity while also making the experience of working at Robinhood even better. Today, over 90% of our employees are already using AI tooling in their workflows.”

“Last year, we said we had $100 million in efficiency, primarily in CX and software engineering. If you look at our volumes last year, they grew about 50% and hiring and customer service was about flat. And so while we didn't need to reduce any hiring, what we were able to do is absorb all of our volumes through the increased productivity, which is great.”

“Another example of a data point we watch is commits per engineer. This measures how much code our engineers are successfully deploying into production. It hit a new high in Q1, and it's up 50% since the start of last year as our engineers are leveraging these AI tools to build even faster for customers.”

“AI is affecting the markets and investors. So one of the things that we've been spending a lot of time on is empowering customers to participate in the economic value and the upside created by these AI companies. Now the unfortunate thing has been a lot of them are still private. In some cases, staying private valuations of hundreds of billions. But Robinhood Ventures was built to solve this. And Robinhood Ventures first fund, RVI had its IPO in March. We have a great portfolio of late-stage frontier companies, and we just added OpenAI last week”

“we've been and we continue to give customers access to the highest-quality AI-powered tools. So Robinhood Cortex, which we unveiled about a year ago, used by nearly 1 million customers so far. So this is like AI intelligence throughout the Robinhood app. You can see it in the Stock Digest, and you can now see it in Cortex Assistant, which is our AI assistant within the product. So now that's rolling out. That's rolled out actually to all Gold customers.”

“it's not just engineering, as I mentioned. So everybody across the firm right now is adopting AI. They're using in their workflows. We're getting AI pilled. It's been incredible to see. And you're going to see that start to go out in many areas. So marketing is a great example. The team just launched some campaigns that were built end-to-end using entirely AI, which is great.”

“My preference really isn't to reveal too much about products before we ship them, but we've got a lot planned this year. I mean there's 3 events that I just announced. So we're going to be launching some stuff in May. Then we've got the crypto event in early July. And then we have HOOD Summit that's going to be our active trader event, third annual in the fall. And I just reviewed kind of the docket for that. You can imagine AI agents and putting the best financial intelligence in our customers' hands is going to be a starting player in the starting 5 of most, if not all, of those events.”

“now that things are shifting in a more agentic direction, like there's an opportunity for us to be differentiated there. We're a low-cost provider. We have great infrastructure. We have great APIs that we use internally. And I know there have been a lot of projects out there on GitHub and other things where people kind of attempt to reverse engineer in a supported -- in an unsupported way. So there's obviously demand for it. So stay tuned.”

“we're really turbocharging Robinhood with AI as well. And if you think about the impact of AI on our business, it's actually three different things. So first, we're aggressively leveraging AI to drive efficiency and productivity internally. We've been doing this for a long time, and Shiv will talk a little bit more about the wins we've been seeing there.”

“for some of the work that we're doing on the agentic side, you should expect that, that increases in capability as well in everything that we do, whenever we -- if we do add recommendations, we got to make sure they're in accordance with Reg BI and all of those rules. So we're making progress on those things and with Robinhood Strategies.”

“you can imagine as we identify more and more of our endpoints, that lowers the activation energy to having Cortex or AI assistant sees everything. But I think, first, our strategy is going to be to make the capabilities available on an individual basis and later to kind of stitch them together for you.”

“you could tell, last December, there was a step change in the agentic capabilities in these AI models. And of course, we're working to bring the frontier capabilities into your product, and we've been spending a lot of time chiseling what an agentic product could look like. So stay tuned there.”

“we've got some great new products to share. So as I mentioned earlier, we've been working hard on extending agentic capabilities into Robinhood Cortex and your Robinhood experience. So you should see some exciting products coming in late May, so that's next month.”

“we're also hearing from customers that they want access to emerging AI companies at an even earlier stage. And we've already begun building the initial portfolio for our next fund, RVII, so the second RVI. We're excited to share more soon.”

“we are also increasing our focus on top-of-funnel customer growth. So this is something new again. While we continue to add customers organically, we think there is an opportunity to improve our customer growth rate, both in the U.S. and internationally. So we're starting to allocate more of our investments in capital to adding new customers again while still maintaining our focus on the strong annualized net deposit growth.”

“we believe AI has the power to transform financial services for both customers and employees. And as a technology company, we plan to lead that charge.”