Global X Funds Launches AIQ
NEW YORK, May 15, 2018 — Global X Funds, a New York-based provider of exchange traded funds (ETFs), announced today the launch of the Global X Future Analytics Tech ETF (Nasdaq: AIQ). Designed to track the Indxx Artificial Intelligence and Big Data Index, the fund holds a basket of companies that are generating vast amounts of data and developing proprietary AI systems to derive actionable insights from that data. The fund will also access companies that offer AI-as-a-Service (AIaaS) for big data analytics, or are developing hardware integral to powering AI systems, including quantum computing.
Artificial intelligence refers to the process of machines or computers performing tasks that would otherwise require human intelligence. In order to attain the capabilities to perform those tasks, AI relies on utilizing and processing large amounts of data, or “big data”, to learn. As the accumulation of data continues to grow, so does the potential of AI systems. Some estimates hold that the emergence of AI could contribute up to $15.7 trillion to global GDP in 2030 – more than the current output of China and India combined.1
“Given AI’s potential to impact a variety of sectors, we believe it is poised to become one of the most significant technological innovations of the modern era,” said Alex Ashby, director of product development at Global X. “Our aim with all of our technology-thematic funds is to provide efficient access to the companies leading the charge in the world’s most disruptive trends. AIQ seeks to provide investors with exposure to the long-term growth potential of the big data and artificial intelligence theme.”
Over 90% of the data in the world has been generated since 2015.2 This “digital universe” is expected to quadruple in size from 2015 to 2020, and then is expected to quadruple again from 2020 to 2025.3 The exponential growth of available data is increasingly being driven by another disruptive theme, the Internet of Things, which is turning everyday objects into internet-connected devices capable of generating and receiving data. As the world’s data reservoir multiplies and computing power continues its torrid growth, the environment is ripe for a revolution in AI capabilities.
AIQ is the seventh ETF in Global X’s Thematic-Technology suite of ETFs. The suite now totals over $3.9 billion in AUM as of April 30, 2018.
About Global X
Seeking to provide access to high-quality and cost-efficient investment solutions, Global X is a New York-based sponsor of exchange-traded funds (ETFs). Founded in 2008, we are distinguished by our smart core, income, alpha, risk management and access suites of ETFs and have more than 50 funds available across U.S. and foreign exchanges. Global X is recognized as a leader in developing intelligent investment solutions for our clients.
Source: Global X