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Robots and artificial intelligence (AI) are increasingly gaining precedence in our daily life. The pandemic-driven stay-at-home trend made these more important as we have become more dependent on technology. The growing accessibility and falling costs are also making the space more demanding and lucrative.

The global artificial intelligence (AI) market size was valued at $454.12 billion in 2022 and is expected to hit around $2,575.16 billion by 2032, growing at a CAGR of 19% from 2023 to 2032, per Precedence Research. The recent success of ChatGPT also made the space even more intriguing. ChatGPT is an artificial intelligence chatbot developed by OpenAI and launched in November 2022.

It is constructed on top of OpenAI's GPT-3 family of large language models and has been modified further using both supervised and reinforcement learning techniques. OpenAI has now been working on a more powerful version of the ChatGPT system called GPT-4, which is set to be released in 2023.

Artificial intelligence can transform the productivity and GDP potential of the global economy, per a PWC article. PWCs research reveals that 45% of total economic gains by 2030 will come from product enhancements, boosting consumer demand.

This will be possible because AI will bring about product variety, with increased personalization and affordability. The maximum economic benefit from AI will be in China (26% boost to GDP in 2030) and North America (14.5% boost), per PWC.

As AI continues to evolve and reshape our world, Nvidia (NVDA - Free Report) stands at the forefront, ready to harness the potential of a $600 billion market. With sustainability in mind and a track record of innovation, Nvidia's vision for accelerated computing promises a brighter future powered by AI-driven technology. Nvidia exec Manuvir Das recently presented some interesting numbers on the market for AI technology, as quoted on Yahoo Finance.

Das noted that the $600 billion total addressable market comprises three major segments:

Chips and Systems ($300 Billion): The foundation of AI, hardware like GPUs and specialized AI chips will play a crucial role in powering AI applications across various industries.

Generative AI Software ($150 Billion): Software that generates content, such as ChatGPT, is gaining traction and transforming creative processes, content generation, and data analysis.

Omniverse Enterprise Software ($150 Billion): Enterprise solutions that leverage AI to enhance productivity, collaboration, and innovation within organizations.

Manuvir Das pointed out that the industry is still in its early stages when it comes to accelerated computing. He drew a parallel between traditional CPU-based computing and the transformative potential of accelerated computing.

As computing becomes increasingly integral to business operations, the demand for data centers, energy, and processing power escalates. This growth pattern, Das argued, is unsustainable without a fundamental shift towards accelerated computing.

No wonder, big tech companies are tapping the space with full vigor. Microsoft (MSFT - Free Report) is investing billions into OpenAI, the creator of ChatGPT, and launched its new AI-powered Bing search and Edge browser. CEO Satya Nadella told CNBC that AI is the biggest thing to have happened to the company since he took over.

Alphabet (GOOGL - Free Report) , which has invested heavily in AI and machine learning over the past few years, rushed to roll out its chatbot competitor BARD. However, BARD failed to see initial success as it gave inaccurate information. Meta Platform (META - Free Report) released a new AI tool LLaMA. Baidu (BIDU - Free Report) launched ChatGPT-style Ernie Bot.

Amazon (AMZN - Free Report) is also not far behind. In a nutshell, the AI war among tech behemoths is heating up as generative technologies capture investors attention. Not only these big techs, there are many small-scale A.I. companies that could be tapped at a go with the ETF approach.

Against this backdrop, below, we highlight a few artificial intelligence ETFs that are great bets now.

AI Powered Equity ETF (AIEQ - Free Report)

The AI Powered Equity ETF is actively managed and seeks capital appreciation by investing primarily in equity securities listed on a U.S. exchange based on the results of a proprietary, quantitative model. The fund charges 75 bps in fees.

ROBO Global Robotics and Automation Index ETF (ROBO - Free Report)

The underlying ROBO Global Robotics and Automation Index measures the performance of companies which derive a portion of revenues and profits from robotics-related or automation-related products or services. The fund charges 95 bps in fees.

Global X Robotics & Artificial Intelligence ETF (BOTZ - Free Report)

The underlying Indxx Global Robotics & Artificial Intelligence Thematic Index invests in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence, including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. The fund charges 69 bps in fees.

iShares Robotics And Artificial Intelligence Multisector ETF (IRBO - Free Report)

The underlying NYSE FactSet Global Robotics and Artificial Intelligence Index is composed of equity securities of companies primarily listed in one of 43 developed or emerging market countries that are the most involved in, or exposed to, one of the 22 robotics and artificial intelligence-related FactSet Revere Business Industry Classification Systems. The fund charges 47 bps in fees.

First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT - Free Report)

The underlying Nasdaq CTA Artificial Intelligence and Robotics Index is designed to track the performance of companies engaged in Artificial intelligence, robotics and automation. The fund charges 65 bps in fees.

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Guide to Artificial Intelligence ETFs - Zacks Investment Research