October 24, 2017
Updated 4mo ago
The first ETF to use artificial intelligence and machine learning throughout the investment process launched at the New York Stock Exchange this month. The security, which trades under the ticker symbol "AIEQ," is outperforming the S&P 500 since its launch. Sam Masucci, CEO of ETF Managers Group, says the fund started with $2.5 million last Wednesday and closed four trading days later with $64 million in assets. Masucci says demand for this ETF is "unprecedented." Art Amador, co-founder of the software company EquBot that is powering this ETF, says this fund isn't about man vs. machine and hopes artificial intelligence as a tool can make people's lives better.