VERS - AI-Powered Metaverse Applications Propelled Tech Stocks In 2023

2024-02-24 02:39:00 ET

Summary

• Last year, artificial intelligence and metaverse-related stocks outperformed the broad technology sector by double digits.
• The Application Software and Interactive Media sub-industries were the main drivers behind the 71% performance of the Solactive Global Metaverse Innovation Index in 2023.
• Applications span a vast spectrum of use cases, from entertainment and retail to government and military.
• AI has emerged as a key technology that is improving, and in some cases transforming, the metaverse user experience.

By Marcus Weyerer , Senior ETF Investment Strategist Franklin Templeton ETFs EMEA

The metaverse’s integration with another transformative technology, AI, boosted the performance of tech stocks in 2023. Marcus Weyerer, Senior ETF Investment Strategist, EMEA, for Franklin Templeton ETFs, delves into the industrial and consumer applications of the metaverse, the role of AI in enhancing these experiences, and the significant growth potential and investment opportunities this virtual world holds. ...

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