Robots and artificial intelligence (AI) are increasingly gaining precedence in our daily life. The pandemic-driven stay-at-home trend made it more important as we have become more dependent on the technology. The growing accessibility and falling costs are also making the space more demanding and lucrative. The global robotics technology market size was valued at $62.75 billion in 2019, and is projected to reach $189.36 billion by 2027, at a CAGR of 13.5%, per Allied Market Research. No wonder, AI-related investing tools like Global X Artificial Intelligence & Technology ETF (AIQ Quick QuoteAIQ - Free Report), ROBO Global Robotics & Automation ETF (ROBO Quick QuoteROBO - Free Report), iShares Robotics and Artificial (IRBO Quick QuoteIRBO - Free Report) and First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT Quick QuoteROBT - Free Report) are hot bets now.

Robots and artificial intelligence (AI) are increasingly gaining precedence in our daily life. The pandemic-driven stay-at-home trend made it more important as we have become more dependent on the technology. The growing accessibility and falling costs are also making the space more demanding and lucrative. The global robotics technology market size was valued at $62.75 billion in 2019, and is projected to reach $189.36 billion by 2027, at a CAGR of 13.5%, per Allied Market Research. No wonder, AI-related investing tools like Global X Artificial Intelligence & Technology ETF AIQ, ROBO Global Robotics & Automation ETF ROBO, iShares Robotics and Artificial IRBO and First Trust Nasdaq Artificial Intelligence and Robotics ETF ROBT are hot bets now.

Today, First Trust Exchange-Traded Fund VI - First Trust Nasdaq Artificial Intelligence and Robotics ETF Inc's (NASDAQ: ROBT) stock fell $0.38, accounting for a 0.69% decrease. First Exchange-Traded Fund VI - First Nasdaq Artificial Intelligence and Robotics ETF opened at $54.62 before trading between $54.62 and $54.13 throughout Friday's session. The activity saw First Exchange-Traded Fund VI - First Nasdaq Artificial Intelligence and Robotics ETF's market cap fall to $252,727,609 on 13,254 shares -below their 30-day average of 22,112. The Nasdaq Stock Market is a global leader in trading data and services, and equities and options listing. Nasdaq is the world's leading exchange for options volume and is home to the five largest US companies - Apple, Microsoft, Amazon, Alphabet and Facebook.

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The First Trust Nasdaq Artificial Intelligence and Robotics ETF (NASDAQ: ROBT) debuted Thursday, becoming the third U.S.-listed exchange traded fund focusing on artificial intelligence and robotics. The newest ETF from Illinois-based First Trust follows the Nasdaq CTA Artificial Intelligence and Robotics Index, which began trading in mid-December and has 88 components. ROBT's index "is designed to track the performance of companies engaged in the artificial intelligence and robotics segment of the technology, industrial, medical and other economic sectors. The Index includes companies in artificial intelligence or robotics that are classified as either enablers, engagers or enhancers," according to Nasdaq. ROBT's components must have a minimum market value of $250 million and a minimum three-month average daily dollar trading volume of at least $3 million.

First Trust Advisors has come out with its own artificial intelligence and robotics-related exchange traded fund to help investors gain exposure to the growth of innovative cutting-edge technology. First Trust recently launched the First Trust Nasdaq Artificial Intelligence and Robotics ETF (NasdaqGM: ROBT), which has a 0.65% expense ratio and is also the cheapest A.I. and Robotics ETF on the market. The lower expense ratio may be a way for the fund provider to better compete against other options in the space as the company comes late into the robotics and A.I. theme. First Trust Nasdaq Artificial Intelligence and Robotics ETF will try to reflect the performance of the Nasdaq CTA Artificial Intelligence and Robotics Index, which is comprised of companies engaged in the artificial intelligence and robotics segments of the technology, industrial and other economic sectors, according to a prospectus sheet. "It is clear that the growing advances in AI and Robotics, while still in early days, are increasing the rate and impact of change," Dave Gedeon, Vice President and Head of Product Development for Nasdaq's Global Indexes, said in a note.

This article was originally published on ETFTrends.com. First Trust Advisors has come out with its own artificial intelligence and robotics-related exchange traded fund to help investors gain exposure to the growth of innovative cutting-edge technology. First Trust recently launched the First Trust Nasdaq Artificial Intelligence and Robotics ETF (NasdaqGM: ROBT), which has a 0.65% expense ratio and is also the cheapest A.I. and Robotics ETF on the market. The lower expense ratio may be a way for the fund provider to better compete against other options in the space as the company comes late into the robotics and A.I. theme. First Trust Nasdaq Artificial Intelligence and Robotics ETF will try to reflect the performance of the Nasdaq CTA Artificial Intelligence and Robotics Index, which is comprised of companies engaged in the artificial intelligence and robotics segments of the technology, industrial and other economic sectors, according to a prospectus sheet.

The fund will list and principally trade its shares on The Nasdaq Stock Market LLC. The fund's return may not match the return of the Nasdaq CTA Artificial Intelligence and Robotics Index.