Indxx Artificial Intelligence & Big Data Index employs a distinctive scoring system to identify leaders in the artificial intelligence and big data sector.
MIAMI, FLORIDA, UNITED STATES, April 2024 /EINPresswire.com/: Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx Artificial Intelligence & Big Data Index to Global X ETFs Australia. The Index serves as the underlying benchmark for the Global X Artificial Intelligence ETF (Ticker: GXAI), which began trading today on the Australian Securities Exchange (ASX). This marks the fourth product tracking the Index, with cumulative assets across the existing funds exceeding $1.3 billion.
The Indxx Artificial Intelligence & Big Data Index is designed to track the performance of companies that are positioned to benefit from the development and utilization of Artificial Intelligence (“AI”) technology in their products and services, as well as companies that produce hardware used in AI applied for big data analysis.
– The global artificial intelligence market is anticipated to reach $1,811.80 billion by 2030, exhibiting a CAGR of 37.3% from 2023 to 2030.
– The global big data market is estimated to reach $401.20 billion by 2028, registering a CAGR of 12.7% between 2023 and 2028.
Rahul Sen Sharma, President and Co-CEO at Indxx said, “The global demand for AI and data-driven solutions is steadily increasing across diverse industries like finance, automotive, and healthcare. According to a report by Goldman Sachs, integrating natural language processing into businesses and society could potentially spur a 7% or nearly $7 trillion surge in global GDP, along with a 1.5% boost in productivity growth over a decade. Our Indxx Artificial Intelligence & Big Data Index is designed to identify companies leading this transformative wave, helping capitalize on the massive opportunity within this growing market. We’re thrilled to collaborate with Global X ETFs Australia to introduce this pioneering strategy to the Australian market.”
Chandan Kumar GV, Head of Product Development & APAC Sales at Indxx added, “Our Indxx Artificial Intelligence & Big Data Index employs a distinctive scoring system to identify leaders in the artificial intelligence and big data sector. This unique methodology, rooted in extensive research translates into a targeted exposure to the underlying theme.”
Evan Metcalf, CEO at Global X ETFs in Australia said local advisers and retail investors are ready for a dedicated AI ETF – particularly one of such high regard – to hit the market. “We are thrilled to be using this established index for GXAI. Its long-standing track record and performance has powered Global X’s sister fund (NASDAQ: AIQ) to become the biggest AI-focused passive ETF in the world. Now, we have the wonderful opportunity to bring it to Australia. Global X expects investment in AI to grow alongside its broader adoption and innovation in the space. Hence, we believe GXAI’s targeted approach of offering exposure to the full AI value chain will be beneficial to investors as this structural shift towards AI occurs across industries and the globe.”
As of April 10, 2024 the index has 84 constituents. The index has been back tested to January 31, 2014 and has a live calculation date of May 02, 2018. For additional information, please see here.
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