Wall Street firm launches five new funds with Motif Investing that will rely on machine learning
Move over, plain-vanilla passive investing. The machines are taking over.
The latest evidence: On Thursday, Goldman Sachs GroupInc.GS -3.87% launched five new exchange-traded funds that rely on indexes built with machine learning and artificial intelligence.
The New York investment bank is working with Motif Investing Inc. to identify companies that fit with broad themes that Goldman’s money managers think will drive growth, like “finance reimagined” and “data-driven world.”