“First, it will deliver new goods and services, such as improved medical care – a focus of AI work at Google and IBM,” said ROBO Global in a recent note. “Second, it will make workers more productive, as new tools have always done, and thus lead to higher real incomes. And third, it will make work more engaging for most workers, as Amazon CEO Jeff Bezos predicted at the Bush Center’s Forum on Leadership in April.”

Financial services is another industry that will be transformed by AI. With the availability of AI and its capabilities now being filtered down to the masses, investors can use these tools to incorporate in their own research in order to filter out opportunities. Likewise, portfolio managers and advisors now have access to AI technology that can be built into the financial products, so that investment decisions are made easier by parsing out key points from complex data.

Companies are scrambling to capture AI-related intellectual property.

“AI patents have surged in the past five years alone, according to the World Intellectual Property Organization (WIPO). From 2013 to the end of 2017, the number of patents grew nearly three times, from 19,000 to more than 55,600,” according to ETF Daily News.

For more on innovative ETFs, please visit our Robotics & AI Channel.