Today, STOXX Ltd., the operator of Deutsche Börse Group’s index business and a global provider of innovative and tradable index concepts, introduced a new index that uses AI-related algorithms to select companies exposed to the artificial intelligence (AI) megatrend at the Inside ETFs conference in the U.S. The new index will be available tomorrow, Jan. 23, 2018.
“The new STOXX AI index is a transparent, rules-based and progressive approach that tracks artificial intelligence using artificial intelligence technology. It is a digital disruption in AI investment itself,” said Matteo Andreetto, Chief Executive Officer at STOXX.
STOXX® AI Global Artificial Intelligence Index comprises around 200 companies from a wide range of industries that invest heavily in the development of new AI technologies such as technology, telecommunications, finance, and internet services. These companies are considered ‘digital pioneers’ that are well-positioned to benefit from the increased adoption of AI technologies, among them Apple, Deutsche Telekom, Bank of America and Facebook.
The new STOXX AI index selects its constituents by using artificial intelligence technology, and it is the first thematic index to do so. For the selection of the index constituents, STOXX has partnered with Yewno, an award-winning AI company based in Silicon Valley, which applied its knowledge graph technology to assess companies’ intellectual property (IP).
Ruggero Gramatica, CEO of Yewno Inc., said his company was proud to partner with STOXX for the launch of the AI Index.