Timefolio Launches TIMEFOLIO Global AI Active ETF Using Solactive Global Artificial Intelligence Index as Benchmark
Artificial intelligence is not something you only see in Sci-Fi movies anymore. In 2023, it is prevalent in our daily lives from Chat GPT, autonomous driving/parking, or AI logistic warehouses to bring productivity to the next level. According to Precedence Research1, the AI technologies market is expected to reach over 1 trillion dollars with an annual average growth of 38.1%. To tap this exponential expansion of the industry, Timefolio is launching TIMEFOLIO Global AI Active ETF (456600.KS) having Solactive Global Artificial Intelligence Index PR as a benchmark.
The index divides the AI industries into two sectors, AI hardware and AI Software to have a balanced exposure. Then it selects top 20 constituents from each AI hardware and AI Software group, selecting top 30 constituents with equal weights for the final step.
1Precedence Research: https://www.precedenceresearch.com/artificial-intelligence-market
Timo Pfeiffer, Chief Markets Officer at Solactive, says: “The AI industry encompasses the fundamental elements of the Fourth Industrial Revolution such as data, algorithm, and other key technologies – deep learning, natural language processing, computer vision, and reinforcement learning that are transforming the way we work and live. We believe the importance and the modern society’s dependence on these technologies will only grow, benefiting companies that are related to AI industry. Solactive is delighted to launch TIMEFOLIO Global AI Active ETF (456600.KS) with Timefoilo as our first collaboration to tap the growth of AI.”