Around this time last year, the Nasdaq CTA Artificial Intelligence and Robotics Index (NQROBO) launched, tracking companies engaged in the AI and robotics sector of the US economy. The index primarily follows the application of AI and robotics in the technology, industrial, medical sectors. The NQROBO distinguishes itself from other AI and robotics indexes by it’s tiered methodology designed to classify companies into separate categories (Enablers, Engagers and Enhancers).
According to the Nasdaq website:
-ENABLERS are companies that develop the building block components for robotics or artificial intelligence, such as advanced machinery, autonomous systems/self-driving vehicles, semiconductors, databases used for machine learning.
-ENGAGERS are companies that design, create, integrate, or deliver robotics and/or artificial intelligence in the form of products, software, or systems.
-ENHANCERS are companies that provide their own value-added services within the Artificial Intelligence and Robotics ecosystem, but which are not core to their product or service offering.
Artificially intelligent machines have become the primary focus of the NQROBO. The index focusing on Artificially intelligent machines is a result of the coalescence of the two main emergent technologies (AI and Robotics) that the NQROBO initially focused on.
The NQROBO is a fantastic index to follow for any company or individual wishing to track the progress of AI and robotics in real-time.