ChatGPT has taken the internet by storm, spurring all manner of experiments and examination as to what extent the artificial-intelligence model can supplant humans and daily tasks. But it’s also being used on Wall Street, where a number of exchange-traded fund issuers, including State Street, have grasped onto the concept to help put together innovative products.

Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, joined the What Goes Up podcast to talk about using AI in portfolio construction. His firm’s SPDR S&P Kensho New Economies Composite ETF is up roughly 20% this year.

“The reason why we went down this path of using AI is that we wanted something forward looking—something dynamic—because back in 2018, we understood that, in the ETF world, there weren’t a lot of strategies that were this forward-looking, innovative-type paradigm,” Bartolini said. “The AI process was able to deliver that for us.”

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