Amundi has launched an exchange-traded fund (ETF) tracking artificial intelligence stocks.
In an announcement, Amundi said its Amundi Stoxx Global Artificial Intelligence Ucits ETF would invest in companies from machine learning to natural language processing, and computer vision.
It said that these sectors would have an impact on all sectors and geographies in the coming years.
Tracking the Stoxx AI Global Artificial Intelligence ADTV5 index, the fund has an ongoing fee of 35 basis points.
Amundi ETF managing director of indexing and smart beta, Fannie Wurtz said: “Product innovation is one of the core principles of Amundi ETF and this new listing demonstrates our commitment to providing our clients to new solutions for their long-term investment objectives”.
The fund’s selection process analyses stocks through AI exposure and AI contribution. The former is measured as a proportion of AI-related patents granted to the company over three years compared to the total number of patents granted to that company over the same period.
The latter measured as a number of patents granted to the company over three years relative to all AI patents given to all companies over the same period.
