While exchange-traded funds (ETFs) holding stocks like Microsoft, Tesla, and Meta Platforms have performed well this year, there are alternative ways to invest in the artificial intelligence (AI) sector beyond the traditional big tech names.
For investors looking to diversify their portfolios beyond the tech sector while still capitalizing on the AI trend, there are other industries indirectly benefiting from AI, according to ETF experts Rich Lee and Todd Rosenbluth.
Rosenbluth, head of research at VettaFi, highlighted the growing influence of AI in healthcare and eCommerce, noting the consistent investment flows towards robotics in recent months. He mentioned ETFs like the Global Robotics and Automation Index ETF (ROBO) and the Global X Robotics & Artificial Intelligence ETF (BOTZ) as examples.
Lee, head of ETF trading at Baird, emphasized the potential of AI in the industrial sector, predicting increased efficiency through automation and improved business processes.
Both experts agreed that fintech is poised to benefit significantly from AI, enhancing the capabilities of financial advisors and investors in sorting through information and improving processing speed.
Overall, AI is expected to infiltrate various sectors and industries beyond the traditional technology and AI sectors, signaling broader opportunities for investment and technological advancements.
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