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STOXX launches Artificial Intelligence index based on Artificial Intelligence algorithm

First Published 23rd January 2018

Artificial intelligence selects stocks autonomously

STOXX, the operator of Deutsche Börse Group's index business, has introduced an index that uses AI-related algorithms to select companies exposed to artificial intelligence (AI). The new index will be available on 23 January 2018.

The STOXX AI Global Artificial Intelligence Index comprises around 200 companies from industries that invest in the development of new AI technologies such as technology, telecommunications, finance, and internet services. Among them are Apple, Deutsche Telekom, Bank of America and Facebook.

For the selection of the index constituents STOXX has partnered with AI company Yewno. The process identifies patent filings related to AI, which can indicate AI innovators and adopters. The underlying universe for the index composition is the STOXX Global and Developed Markets Total Market Index, which tracks around 7,000 stocks.

Matteo Andreetto, CEO of STOXX said: "AI technologies present an unrivalled investment opportunity, yet investors need solutions to discern hype from a real opportunity. With our two new transparent, rules-based AI indices for AI-focused investors we offer them choice: on the one hand, a classical, revenue-based approach; on the other hand, a progressive, AI IP-based approach, where an AI algorithm is used in the selection of companies."

In addition to the AI index based on AI, STOXX also launched the STOXX Global Artificial Intelligence Index, which includes companies with a revenue exposure above 50 per cent to AI-related sectors.