by Roundhill Investments announces the launch of Generative AI & Technology ETF (NYSE: CHAT).
$CHAT provides investors exposure to companies at the forefront of artificial intelligence technology, with a focus on generative AI.
“Generative AI represents the next frontier of artificial intelligence technology, offering the potential to revolutionize industries such as entertainment, healthcare, and more. With CHAT, investors can gain exposure to this rapidly-evolving field, potentially benefiting from what we believe will be the exponential growth of generative AI technology,”
Dave Mazza, CSO.
Year of The AI
2023 became known as the year of AI. A popular platform called ChatGPT developed by OpenAI became the fastest application to reach 100 million users.
Generative AI is described as a category of artificial intelligence algorithms that can generate new content based on existing data.
It has been hailed as the next frontier for various industries, from tech to banking and media according to JP Morgan.
The implementation of Generative AI has the potential to increase the global GDP by 7%.
Moreover, the progress in this field may lead to significant changes in workflows, which could result in the automation of approximately 300 million full-time jobs in an article published by Goldman Sachs.
Real-world Use Cases
The popularity of Generative AI technology skyrocketed when a song titled “Heart on my Sleeve” featuring Drake and the Weeknd started gaining traction on various social media platforms.
Ever since TikTok user ghostwriter977 popularized the original song, a remarkable trend has emerged.
Giving rise to an array of talented artists and an abundance of AI-generated songs on platforms like YouTube, TikTok, and Instagram.
This captivating trend has captured the attention of music labels most notably Universal Music Group (UMG).
In a strong stance against AI-generated music, UMG (Universal Music Group) has labeled it as a ‘fraud’ and is actively advocating for its prohibition from streaming platforms.
UMG has taken its opposition to the next level by employing takedown requests on diverse streaming platforms to curb the presence and dissemination of AI-generated musical content.
