Goldman Sachs launches five new ETFs focusing on artificial intelligence and machine learning
Mar 08, 2019| Five exchange-traded funds (ETFs) were launched on Thursday, and the ETFs were based on machine learning and artificial intelligence.
The New York investment bank partnered with Motif Investing Inc. to identify companies that fit some of the overall themes, and Goldman Sachs fund managers believe these topics will drive growth, such as “financial new concepts” and “data-driven worlds”.
Goldman Sachs' entry into the computer-driven ETF is the latest sign that Wall Street is increasingly relying on advanced automation. Computers read much faster than a large group of analysts, and can quickly screen company reports, news reports, and regulatory filings to find clues about a company's future prospects. Two years ago, BlackRock Inc., the world's largest asset management company, announced that it would take the initiative to manage its stock business more actively, relying on robots rather than humans.