In late January, the world of artificial intelligence went mainstream when popular online media company BuzzFeed announced it was planning to use artificial intelligence software called API to help it generate content. OpenAI, the company that created API, also made the more popular ChatGPT, released in November of 2022. API and ChatGPT have been used to write emails and create quizzes and listicles. It has even been used to write reports on popular books and other essay-style assignments for high school and college students. While we have all heard about the potential of artificial intelligence for years, BuzzFeed taking the plunge and using it to create content is a big deal.

BlackRock Institutional Trust Company N.A. - iShares Robotics and Artificial Intelligence Multisector ETF (NYSE: IRBO) shares fell 0.55%, or $0.24 per share, to close Friday at $43.36. After opening the day at $43.16, shares of BlackRock Institutional N.A. - iShares Robotics and Artificial Intelligence Multisector ETF fluctuated between $43.57 and $43.16. Friday's activity brought BlackRock Institutional N.A. - iShares Robotics and Artificial Intelligence Multisector ETF's market cap to $433,600,000. The New York Stock Exchange is the world's largest stock exchange by market value at over $26 trillion. It is also the leader for initial public offerings, with $82 billion raised in 2020, including six of the seven largest technology deals.

In this episode of ETF Spotlight, I speak with Zacks Senior Stock Strategist, Kevin Cook, about investing in advanced technologies, which are bringing science fiction to our offices, homes, cars, and portfolios. London-based research company DeepMind, which was acquired by Alphabet parent Google GOOGL in 2014, has developed an AI system that can predict the 3D shape of all known proteins with almost perfect accuracy. This is a huge development for life sciences and medicine. Exponential advancements in AI have changed the nature of computing, making Moore's law irrelevant. Per WSJ, Huang's law named for Nvidia's NVDA CEO, is in full effect now.

For investors looking for momentum, iShares Robotics and Artificial Intelligence Multisector ETF IRBO is probably a suitable pick. The fund just hit a 52-week high and is up 71.9% from its 52-week low price of $19.10/share. Let's take a look at the fund and its near-term outlook to gain an insight into where it might be headed: This ETF seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and AI. It has AUM of $176.1 million and charges 47 basis points (bps) in annual fees. Due to the coronavirus outbreak, the robotics market is flooded with opportunities as robots are being used for jobs such as sanitizing hospitals, homes and workplaces along with monitoring, surveying, handling, and delivering food and medicines.