GINN - BlackRock highlights artificial intelligence in its 2023 midyear outlook report

2023-07-13 09:50:22 ET

BlackRock outlined in their 2023 midyear outlook report to investors that markets currently provide an abundance of investment opportunities with one area being artificial intelligence.

“AI-driven productivity gains could boost profit margins, especially of companies with high staffing costs or a large share of tasks that could be automated,” the world’s largest asset manager stated in its midyear report.

The financial firm outlined that Wall Street is still assessing the potential effects AI brings to applications and how the technology could disrupt entire industries. The firm stated that AI goes beyond sectors and also brings greater cybersecurity risks across the board.

BlackRock went on to add: “We think the importance of data for AI and potential winners is underappreciated. Companies with vast sets of proprietary data have the ability to more quickly and easily leverage a large amount of data to create innovative models. New AI tools could analyze and unlock the value of the data gold mine some companies may be sitting on.”

For investors looking to analyze the artificial intelligence space further, see below a grouping of 10 popular AI focused exchange traded funds:

• GX Artificial Intelligence & Tech ETF ( NASDAQ: AIQ )
• GX Robotics & Artificial Intelligence ETF ( NASDAQ: BOTZ )
• ALPS Disruptive Technologies ETF ( DTEC )
• Goldman Sachs Innovate Equity ETF ( GINN )
• iShares Robotics and Artificial Intelligence Multisector ETF ( IRBO )
• Artificial Intelligence and Robotics ETF ( NASDAQ: ROBT )
• iShares U.S. Tech Breakthrough Multisector ETF ( TECB )
• iShares Exponential Technologies ETF ( XT )
• Robo Global Artificial Intelligence ETF ( THNQ )
• Roundhill Generative AI & Technology ETF ( NYSEARCA: CHAT ) ( Recently launched on May 18 ).

More on Artificial Intelligence:

• BofA takes neutral view on AI ETFs, weighing growth potential vs. near-term headwinds
• UBS believes the AI trend is not a bubble but says investors should remain selective
• Barclays spotlights 'immense' potential for AI, points to NVDA, MSFT as 'key names'
• Qraft launches AI-driven large-cap ETF

For further details see: