As a disruptive technology, artificial intelligence is also looking to disrupt the workforce, altering the demand for more skilled labor that supplements the use of AI.
According to a HR Today article, a Cengage Group’s 2023 Employability Report surveyed 1,000 graduates who completed a degree or non-degree program in the last 12 months along with 1,000 U.S. hiring decision makers. As AI technology comes to the forefront and is permeating business operations in various sectors, over half of graduates said that AI is forcing them to re-think their skillset and how to best prepare for this technological revolution.
“The workplace has changed rapidly in the last few years, and now we are witnessing a new shift as AI begins to reshape worker productivity, job requirements, hiring habits and even entire industries,” said Michael Hansen, CEO of Cengage Group. “With new technology comes both new uncertainties and new opportunities for the workforce, and educators and employers must do more to prepare today’s workers for these technological shifts.”
As the trend continues and companies are shifting to hiring AI-related skills, it opens up opportunities for exchange traded fund (ETF) investors. Short-term traders looking to capitalize on the moves can also take advantage of the shift as well.
Trade the AI Trend
In particular, for the short term, consider the Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X ETF (UBOT). UBOT seeks daily investment results equal to 200% of the daily performance of the Indxx Global Robotics and Artificial Intelligence Thematic Index, which aims to provide exposure to exchange-listed companies in developed markets expected to benefit from the adoption and utilization of robotics and/or artificial intelligence.
Key characteristics of UBOT:
- The Indxx Global Robotics and Artificial Intelligence Thematic Index (IBOTZNT) is designed to provide exposure to exchange-listed companies in developed markets that are expected to benefit from the adoption and utilization of robotics and/or artificial intelligence, including companies involved in developing industrial robots and production systems, automated inventory management, unmanned vehicles, voice/image/text recognition, and medical robots or robotic instruments, as determined by the index provider, Indxx.
- Companies must have a minimum market capitalization of $100 million and a minimum average daily turnover for the last six months greater than or equal to $2 million in order to be eligible for inclusion in the index.
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