Pictet-Robotics, is one of the first funds of its kind to invest in robotics and artificial intelligence technologies, the firm said.
Structured as a Luxembourg sicav, the fund aims to capitalise on the growth of the robotics industry, which is forecast to expand four times faster than the global economy over the next decade, according to Boston Consulting Group.
Pictet said advances in IT, such as cloud computing and the emergence of powerful new microprocessors are ‘revolutionising robotics and automation technologies’, taking them beyond factories into everyday lives.
According to the asset manager robots that can detect changes in facial expressions and tones of voice are now being used in services and security industries, while in healthcare robots already assist surgeons, and in transport smart sensor technology is being deployed in driverless cars.
“Robots have long been used in factories to automate dangerous, dirty or dull tasks,” said Karen Kharmandarian, senior investment manager, thematic equities. “But the pace of invention is accelerating as robots are becoming indispensable to our professional and personal lives. Companies active in robotics seem bound to enjoy strong growth from this new wave of innovation.”
The robotics fund is the most recent addition to Pictet Asset Management’s range of thematic strategies which already includes digital communication, security, health and water focused funds.