IBM's Watson Is Key to a New Artificial Intelligence-Powered ETF
International Business Machines Corp.'s (IBM) Watson is seen in the immersion room during an event at the company's headquarters in New York, U.S., on Tuesday, Oct. 7, 2014. To help commercialize the technology famous for beating humans on the 'Jeopardy!' game show, new languages such as Portuguese and Japanese are being added to the Watson service this year, said Stephen Gold, vice president of the Watson Group business.
Photographer: Michael Nagle/BloombergAs if active portfolio managers didn’t have enough challenges from computer-driven passive investing strategies, now machines are directly horning in on their territory.
San Francisco-based EquBot LLC is launching the first ever exchange-traded fund to use artificial intelligence, according to a company statement on Tuesday. Employing International Business Machines Corp.’s Watson platform, the AI Powered Equity ETF, ticker AIEQ, will attempt to mimic an army of equity research analysts working around the clock, according to Art Amador, co-founder of EquBot.