Alternative Investments/AI: Tidal Files For ETF (CHAT) To Capture The Conversational AI Theme

The new fund, with ticker CHAT, aims to invest in companies focused on conversational AI
A new exchange-traded fund (ETF) called the Conversational AI, AI and Innovation ETF has been filed with the Securities and Exchange Commission, seeking to invest in global stocks connected with artificial intelligence, specifically in “conversational” AI and innovation. Appropriately, the new ETF would trade under the ticker CHAT. (Bloomberg)
The ETF is clearly seeks to capitalize on the success of OpenAI’s ChatGPT, which has attracted a million users since its release in November, though the ETF has a more expansive coverage of AI:
- machine learning – learning a new task without being specifically programmed to do it,
- deep learning – learning by example,
- natural language processing – understanding human language text or speech,
- computer vision – interpreting and understanding the visual world (e.g., distinguishing faces), and
- expert systems – which simulate the judgment and behavior of humans with expertise in a particular field (e.g., medicine).
It also mentions in the filing that AI has a wide range of applications, such as self-driving cars, speech recognition, image recognition, natural language understanding, decision-making, and many more.
On Conversational AI, the filing for CHAT details as follows:
- A set of technologies that enable automated messaging and speech-enabled application, including chatbots, that offer human-like interactions between computers and humans.
- Conversational AI systems that can communicate like a human by recognizing speech and text, understanding intent, deciphering different languages, and responding in a way that mimics human conversation.
- Conversational AI applications that use large volumes of data, machine learning, and natural language processing to help imitate human interactions, recognizing speech and text inputs and translating their meanings across various languages and systems.
The track record of AI ETFs is nothing spectacular, however. The $1.7 million WisdomTree Artificial Intelligence and Innovation Fund (WTAI), which was launched in December 2021, is down 27% since inception.
Although the new fund CHAT (from Tidal Financial Group) may struggle, according to some analysts, conversational AI is expected to be an important investment theme for years to come, and this is not the first AI-focused ETF to be launched.
Related Story: OpenAI Launches ChatGPT, A New Conversational AI System
Image by Alexandra_Koch from Pixabay

Latest Alternative Investment News

Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance…

FinTech: Cogo And Eliq Partner To Help Banking Customers Enhance The Energy Efficiency Of Their Homes
Cogo, a fintech which collaborates with banks to assist customers in decreasing their carbon footprint as a carbon footprint management firm, is partnering with Eliq, a company that specializes in…

Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life…

Artificial Intelligence: The DAGGER AI Model Gives Advance Warning Of Dangerous Solar Storms
Researchers have developed an AI-based model that combines satellite data and machine learning to predict where an impending solar storm will strike on Earth, offering 30 minutes of advance warning….