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- 🤖 Jim Cramer: “People who say AI is only a hype are fooling themselves”
🤖 Jim Cramer: “People who say AI is only a hype are fooling themselves”
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Neon Pulse Team
August 15, 2023
Good morning and welcome to the latest edition of neonpulse!
Jim Cramer is saying AI is not a hype. Top signal?
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Jim Cramer says saying “AI is a hype” is fooling yourself
The buzz surrounding AI is undeniable. We're in the midst of an AI boom, where ChatGPT and other LLMs have propelled us into what some describe as an AI "hype cycle".
The mere mention of AI by a publicly traded company has the power to send its stock soaring, contributing to the feverish excitement in the market.
However, not everyone is swayed by the wave of enthusiasm. CNBC's own Jim Cramer, the host of "Mad Money", offered a counterpoint. He shared his perspective on the show, stating, "I know there's a lot of hype here, and in some individual cases it is overblown, but anybody who tells you that AI is pure hype, that person is only fooling herself."
Amidst this ongoing debate about the true impact of AI, one thing remains clear – AI and its related technologies have firmly entrenched themselves within our modern economy. Investors are eyeing this burgeoning sector with interest, seeking ways to capitalize on its potential.
Enter ETFs (exchange traded funds).
The Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares (NYSEARCA: UBOT) is leading the pack with an impressive 53.26% year-to-date surge. With around $31.6 million in assets under management, this ETF offers investors a 2X leveraged exposure to the dynamic world of robotics, AI, and automation.
Meanwhile, the Spear Alpha ETF (NASDAQ: SPRX) has also been making waves, boasting a notable 45.65% increase. With $11.5 million in AUM, this ETF offers a more budget-friendly expense ratio of 0.75%. Investors have shown their confidence through a three-month average daily trading volume of $27,097.
On a broader note, the iShares U.S. Technology ETF (NYSEARCA: IYW) has garnered attention, riding the tech wave with a 42.65% rise. With substantial AUM of $10.9 billion, it comes with a lower expense ratio of 0.39% and enjoys a high three-month average daily trading volume of $856,483.
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As a business owner, you may want to write a non-fiction book in 2023 and want to know how to avoid problems with artificial intelligence (AI) while also taking advantage of the new technology. To help you prepare for this, here are some predictions and advice for navigating the AI landscape in the book publishing industry.
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