Are robotics and AI about to have their moment on the ASX? | 2023 investing inspo with Global X

Maddy: [00:00:19] Hello and welcome to You’re in Good Company Summer Series. I am Maddy Guest and as always, I am with very good company with my co-host, Sophie Dicker.

Sophie: [00:00:30] Mads, it's safe to say that 2022 was a volatile year for markets, and we actually learned a lot Of lessons during this period. 

Maddy: [00:00:37] If only we had had a crystal ball at the start of last year, it really would have helped with some of our investing decisions. 

Sophie: [00:00:43] So we thought what a better way to start the new year than with our very own crystal ball. 

Maddy: [00:00:48] We are bringing you industries to watch in 2023, as quoted by you. Four episodes of a four week Aussie summer. 

Sophie: [00:00:56] Or I guess a winter series if you're joining us from the Northern Hemisphere, Welcome If you are. 

Maddy: [00:01:00] Hello. We are going to be talking through some of the most talked about industries that just might have their moment on the ASX in 2023. 

Sophie: [00:01:08] This series is brought to you by Global X, a powerhouse ETF provider in the local and international markets, offering investors best in breed products backed by industry leading research. 

Maddy: [00:01:19] So Soph, let's set the scene. You and I were sitting at the pub a couple of weeks ago enjoying the sunshine. We had a couple of rows. 

Sophie: [00:01:26] A carafe actually. We can absorb it as a carafe over as. 

Maddy: [00:01:30] We love dining and we thought it would be a good idea to post an Instagram story and get some ideas from you guys around what industries that you are interested in.

Sophie: [00:01:41] The biggest industry around to know about was robotics and AI.

Maddy: [00:01:44] Yeah, which I mean, to be fair, that one was probably expected. But I think we we found it quite fascinating because we had a long list of industries and we sort of picked our favourite so that we could pit them against each other and make sure that our favourites got voted for. And I mean, we Got proven wrong. 

Sophie: [00:02:00] I think we got proven wrong on most of them. We were like, Oh, okay, we're talking about different stuff and I guess. 

Maddy: [00:02:05] About robotics and A.I.. We are very excited too. I feel like it's very topical at the moment.

Sophie: [00:02:10] Yeah, it is because I feel like there's avatars on TikTok and this chat bot is talking to us. 

Maddy: [00:02:16] Sorry about the Avatars on tiktok. 

Sophie: [00:02:18] Have you not seen? Okay, so I'm obviously in some weird TikTok. 

Maddy: [00:02:21] What is going On in your algorithm? 

Sophie: [00:02:23] Haven't you seen a case? You take a picture of yourself and it turns you into an avatar and there's really funny ones and people take photos of blank rooms and people rock up and go, How? That is not all my algorithm. AI because it's making you into a little person cartoon. 

Maddy: [00:02:39] So before we go any further, I think we should just confirm that AI stands for Artificial Intelligence. 

Sophie: [00:02:45] Yeah, sure.

Maddy: [00:02:47] Let's start with robots. What comes to your mind bearing a picture of the word robot? I think of Star Wars and that what's it R2-D2 like? The beep beep woop that kind of. Yeah. Yeah. Action. Yeah. Got me. No, I like it.

Sophie: [00:03:01] Well, guys, you don't mind when you think of a robot? 

Maddy: [00:03:04] It's very kind of like dystopian. Metallic. Like square? They also modern day robots. I'm thinking of Sascha's vacuum that she's obsessed with, produces Sash always Puts on her Instagram story the vacuum in her house That just zooms around and. 

Sophie: [00:03:21] Oh, my God, I forgot about that. Every time a recording that comes in, it's like a hello. 

Maddy: [00:03:27] Okay. And then what about A.I.? What comes to mind? 

Sophie: [00:03:30] A.I. The first thing that comes to mind is like a chat bot. So like, at work or like when you go online shopping for. And it's like, do you need assistance? I never use it, but it's always like that. What about you? 

Maddy: [00:03:46] I guess like Siri. Alexa. 

Sophie: [00:03:52] Just be careful. Oh, no, I don't have an Alexa. I think I'd be to ever mention a name, you know, it would go. So I guess robotics and AI people often term them together, like as an industry, and they're separate things. I feel like robotics is kind of like the hardware, the built up thing to like copy in action of a human. And then the eyes kind of like the software that you teach to do something. Is that kind of the way you think about it? 

Maddy: [00:04:18] Yeah, I guess. I don't know. I think wireless hardware is definitely correct. I reckon it is becoming more and more like software in terms of robotics. That is how in my mind I would distinguish them. 

Sophie: [00:04:29] I think that's why that people put robotics and AI together because it's like you use one and you use the other and together they create Something beautiful. 

Maddy: [00:04:39] So I thought I could start with a quick game. I have come up with a couple of robots, and I want you to determine whether they are real or fake. Are you ready? 

Sophie: [00:04:48] Yes. 

Maddy: [00:04:48] So the first one's name is Atlas, and this is an emergency services robot known for its ability to run faster than humans and do parkour. 

Sophie: [00:04:57] I was going to say real because emergency service. But parkour fake. 

Maddy: [00:05:02] No, it is actually real. 

Sophie: [00:05:04] It does Parkour. 

Maddy: [00:05:05] It does parkour bounces off walls and stuff. 

Sophie: [00:05:08] Yeah. Useful noise. 

Maddy: [00:05:10] All right. The next one is called Sandy Bundy. Fake tans and airdries your body in record time, including the hard to reach places on your back.

Sophie: [00:05:19] Surely real. That'd be so useful. 

Maddy: [00:05:22] Oh, that's fake. That came out when I was thinking. What do I need help with in my life? What are my friction points? And it's fake chatting my back. 

Sophie: [00:05:30] Okay, so now I'm thinking Start-Up idea. 

Maddy: [00:05:33] Sure. Although, the more I think about it, the more it just does sound like what happens when you go to, like, a fake tabloid. 

Sophie: [00:05:38] Yeah, I'm sure this is somewhere you just stand and it does for you. 

Maddy: [00:05:41] I'm pretty sure that that is already exist, even though I made it up. The last one is Ibo. The robotic dog replicates many actions of an actual dog, providing owners with a realistic experience of owning a dog but have unfavourable circumstances such as busy lifestyles or allergies. 

Sophie: [00:05:56] I'm going to go fake because if you want a dog, why wouldn't you just get a real one and like, have the commitment, you know, because you might have unfavourable circumstances such as bizarre lifestyle allergies. Yeah, I don't know. Like, can you snuggle robot dog? 

Maddy: [00:06:11] Yeah, it can be snugly. 

Sophie: [00:06:13] Is it metal?

Maddy: [00:06:14] I don't know. 

Sophie: [00:06:15] Is it real? 

Maddy: [00:06:17] It's real. 

Sophie: [00:06:18] Wow. I really wouldn't have guessed that. 

Maddy: [00:06:21] I think the reality is now or these days, like robotics are actually so versatile, and I think they've probably come for fear that in terms of like developing the technology, then I definitely think what we're very. 

Sophie: [00:06:35] I'm thinking in my mind, I know you're asking for robots like The Jetsons. And the one that like Runs around and it's literally a square. So it's not going that. it's not going to work very well. So if do you have any examples then of like robotics being used by companies that we know today. And what they are doing?

Maddy: [00:06:53] I think the first one that comes to mind is Amazon. Like they have little robots like all around their warehouses, pick and pack boxes. Do all of that kind of, I guess automating all of that sort of manual labour in their warehouses. How about you? 

Sophie: [00:07:06] I would say Tesla because they streamline making all their cars with these huge robots and put them through the factory. Yeah. If you've never googled YouTube, Tesla Gigafactory. Berlin before you. 

Maddy: [00:07:20] What do you mean if you never have, I will put my hand on my heart and say, I'm pretty sure not one of our listeners will have googled Tesla Gigafactory. 

Sophie: [00:07:28] It's a really cool video, some great music behind it, and you're just see the robotics. But honestly, it's like it's completely not the traditional sense of what I thought. A robot was nice.

Maddy: [00:07:38] Okay, what about A.I. practical uses by companies today? 

Sophie: [00:07:42] One that comes to mind is like our preferences use A.I. for your preferences. So I think of like Netflix or Spotify. Like Spotify, if you have it every week, creates you like a Discover weekly playlist. And that's how AI because it's based off like working out what kind of music you like listening to, like the beats and the amount. 

Maddy: [00:07:58] You mean there's not someone in the Spotify office looking at and listening to and design your personal playlist.

Sophie: [00:08:05] Hey, it might be that might be what comes to Mind for you. 

Maddy: [00:08:10] I know Alphabet. Alphabet, the parent company of Google, have a autonomous driving sort of AI company called Waymo. Yeah, Yeah. So I think like that autonomous driving space, driverless vehicles, is that sort of where my mind goes? And AI think. 

Sophie: [00:08:25] Yeah, because they're picking up like all the footage that they see around them and like then making it into like a map, it's like kind of storing it and remembering it and then spitting out as important data later on.Such a cool thing. 

Maddy: [00:08:36] Something that I have been saying all over social media at the moment is this chat GPT. 

Sophie: [00:08:44] Did you say my barrio the other day?

Maddy: [00:08:45] No. 

Sophie: [00:08:46] It was like my face is like in shock and I was asking these robot questions at like midnight. Because I was just so obsessed with it. It's the coolest thing ever. 

Maddy: [00:08:56] What did you ask it? 

Sophie: [00:08:58] Oh. Everything under the sun as it had a q a whirl pace. 

Maddy: [00:09:01] Oh, what did it say? 

Sophie: [00:09:02] Oh, I'd have to go back and check. But it was something like when you ask it particular questions, it doesn't like to respond. but quickly, should we give some context of what Chat GPT is before we go on a tangent?

Maddy: [00:09:13] Yeah. So if you haven't come across it on your social media, I don't. I'm also have something going on in my algorithm because of pain over mine, but its effects will be what is called transformative AI. And so it's sort of taking the traditional chat bot that like we spoke about earlier, might be on your social, not your social media could be hype. It's not might be on your online shopping. On your. What else is it? 

Sophie: [00:09:38] I don't know. It worked. Ask questions about your leave and pay and whatever else. 

Maddy: [00:09:42] Oh, wow. It's your what? How about. Yeah, we randomly have anyway instead of that's your basic chat. But the idea of chat GPT, that is transformative. So it's sort of taking it to the next level. I heard a really useful comparison that, you know, if you think about Google where you typed something into Google and it sort of fades back to things that already exist. this transformative I it goes the next level can actually respond to your questions just by like, you know, absorbing all of the data that is out there already. And it can, it can create new content. I guess.

Sophie: [00:10:17] Yeah. So I thought it would be a bit of fun to play with this chat GPT. Is there something that you would like to know? Anything? 

Maddy: [00:10:28] Oh, let's write a song. about two girls who want to make investing accessible for everyone. 

Sophie: [00:10:38] Oh my God, It comes up so quickly. Holy crap. 

Maddy: [00:10:41] What does it say? 

Sophie: [00:10:42] Give me a beat. 

Maddy: [00:10:44] Ding, ding, ding, ding, ding about that name song. If you're not understanding.

Sophie: [00:10:50] Two girls with. A mission to make. Investing easy to learn. But they know it can be. Intimidating. They want to. Show you if there's. Nothing to be feared. Oh, Chorus That's verse. One to grow. Chorus They're on a mission to demystify the world of investing Oh, so high We apply like so they want to make it accessible to anyone. No matter who you are, no matter what you've done. 

Maddy: [00:11:19] All right. I will stop me there because this verse three, four and five. I will also be sure to share the video of that on social media, because watching Safe way was the highlight. 

Sophie: [00:11:31] I'm embarrassed. 

Maddy: [00:11:32] Okay. that was great. Well done. 

Sophie: [00:11:34] That was good. That's very funny. Do you have any investing questions for all? 

Maddy: [00:11:38] Can I do? Can you give us like, an investment thesis? 

Sophie: [00:11:41] Shall we test it out? Let's do it. Go for who? 

Maddy: [00:11:45] Let's do Walmart. 

Sophie: [00:11:47] Random, but love it because supermarket theme. You know I love a supermarket. I'm so shocked at how quickly the writing comes up. My God, Walmart is a global retail giant that operates a diverse range of businesses, including a vast network of bah bah bah bah saying,. 

Maddy: [00:12:03] Sorry, this is just going to be writing episodes for now. 

Sophie: [00:12:05] I'm pretty much it saying key drivers to success. It's purchasing power because it has so many stores. 27 countries can negotiate favourable deals with suppliers. It's got diversified revenue streams and e-commerce platform, Sam's Club Membership Warehouse division. That's really a lot of information.

Maddy: [00:12:23] Does it give any downsides? 

Sophie: [00:12:25] I think I have to ask, but no, it doesn't. 

Maddy: [00:12:29] It's in the interest of this episode not going to out you. 

Sophie: [00:12:33] Guys download chat GBT. 

Maddy: [00:12:36] So fascinating. One final question. I think we should ask it to tell us the advantages and disadvantages of robotics and AI a.k.a itself. I wonder if it's going to tell us anything.

Sophie: [00:12:49] Okay. Oh, we've got numbers. It's numbering out. okay. Let me just copy and paste this into the Google docs so we can have a chat about it. One growth potential. The robotics and our industry is expected to experience a significant growth in the coming years. It even gives a stat saying that the global robotics market is expected to grow at 17.3% up until 2026 and AI is expected to increase 40 at 46.2%. That's like Amazing facts. 

Maddy: [00:13:22] All right. Number two, increasing adoption. Robotics and A.I. technologies are being increasingly adopted across a range of industries, including manufacturing, health care, transportation and retail. This trend is likely to continue as companies look to improve efficiency and reduce labour costs. This is really doing our job for us. 

Sophie: [00:13:40] This is true, though. Like I feel like we have really seen the end robotics being adopted across every industry as we kind of just spoke about before. So I feel like as people adopt it more, more money is being kind of pumped into that space and that's why it's an advantage.

Maddy: [00:13:53] We'll give so much. It's like massive efficiency costs, which pains us. Sorry, I'm looking at number three cost savings. So the use of robotics and I can help companies to reduce labour and improve their efficiency because ultimately, you know, robots, if you think about people doing these jobs, they take holidays, they get sick at a coffee breaks, they might notice my car. Yeah, robots don't need smokers.

Sophie: [00:14:17] And interestingly as well, it says that there's increased quality assurance. And what I find really interesting about this one is that I've seen these like robot before and it pretty much tries to make decisions as to whether someone is guilty or not in a legal case. 

Maddy: [00:14:31] Yes, this was in Malcolm Gladwell's book out. 

Sophie: [00:14:35] Outliers or talking to strangers. One of the two. 

Maddy: [00:14:38] I think. Yeah, not sure, but I reckon.

Sophie: [00:14:41] But anyway, what he what was being said is that if you got a robot that doesn't have any bias attached to it or like human emotions, I think they found that the robot chose better, whether it's in a law case, whether someone was guilty or not. 

Maddy: [00:14:55] I guess because we as humans have so many like we have so many biases. 

Sophie: [00:15:00] Yeah, exactly. But then again, in different industries, quality assurance might be, you know, if you're in health care or something, and then being more meticulous with surgery or cleaning or something else. So I think that's a really interesting perspective because companies might want to bring their products in more to increase their quality assurance. 

Maddy: [00:15:16] Yeah, I also do like the biggest example of this that comes to mind is autonomous driving. I think obviously we're not there yet, but there will come a day where like it's so much safer. Yeah, kinds of autonomous driving because you know, at the behest of human error and behind the wheel, at the behest. 

Sophie: [00:15:33] The best of human error. So in summary, it's saying that it loves itself because there's a lot of growth potential companies are increasingly adopting this technology, meaning there's a lot more of it in the future and it helps companies cost lives. It actually might be better for their Profit and loss.

Maddy: [00:15:49] Will it tell us the downsides of itself? Oh, maybe we got it. 

Sophie: [00:15:55] Let's go. 

Maddy: [00:15:56] Find out. 

Sophie: [00:16:00] So the first one is risk of technological obsolescence, which I feel like is one that I can relate to a lot because I would be worried about investing in the AI robotics industry because I feel like I don't know a lot about it. 

Maddy: [00:16:12] So what do you mean? It develops at a rate so quickly that very quickly, you know, what was the most advanced version of that technology six months ago is now no longer the case? 

Sophie: [00:16:24] Yeah, exactly. And you could be investing in a company that's working the robotics space, but then, like, its technology could flop. Yeah. Yeah. So I feel like with that one, I would say like you look at an ETF or something because I'd be a bit worried about that one. 

Maddy: [00:16:40] For sure. Number two is regulatory risk. 

Sophie: [00:16:42] Regulatory. Regulatory. 

Maddy: [00:16:46] I feel like I say regulatory. Is that Wrong?

Sophie: [00:16:48] What regulatory should we ask the channel to say. Not that I know of, no.

Maddy: [00:16:58] All regulate regulatory risk is number two. This one really resonates, and I think it's definitely something that I would say is quite important because especially as this technology develops, you know, we're going to have to kind of set some standards somehow to govern what it can and can't do, because this technology is going to be smarter than us. This that this technology is smarter than us. And it's quite scary in a lot of ways in terms of what it could be capable of. So I think there's going to have to be some rules around. 

Sophie: [00:17:28] Yeah, I think there's a bit of an age old argument happening at the moment and that links into like ethical concerns. For example, it's like people losing their jobs or like robots taking away certain elements that humans have really loved. And so they're worried about like, you know I think that like, what's That thing? Something happened and it was like Steve Jobs or someone was involved and they put two robots in a room and like within like an hour they'd killed each Other or something Like they had no preconceived bias. Like in an hour they like planned a war or like curate something really scary. 

Maddy: [00:18:02] Yeah, that actually does. Sounds like familiar. 

Sophie: [00:18:04] You actually sent me a podcast in prep for this at The Daily, and it was all about this new chat GPT technology. And one of the conversations in that that I found super interesting was around how open AI who's the owner of charge is set up some restrictions about what it can and can't tell you. so if you ask the chat certain questions it will essentially it won't respond, which I mean obviously feels like a great and very necessary thing. But then when you think a little bit deeper about that, it's like, well, hold on now open AI essentially is has a bias. And is kind of controlling the discourse on it on it. Which I mean like, well, let's not get too far into it. But when it comes to freedom of speech, it's like that's a really big question around what kind of power that holds.

Maddy: [00:18:50] Yeah. So I think there the concern is like who gets to control robotics and AI? 

Sophie: [00:18:55] Exactly. The last one is, you know, we said cost savings before, but there's really high Start-Up costs associated with developing and implementing robotics in AI, especially when the technology is moving so fast. Yeah. So I think for companies that are wanting to implement it, it might have good long term impacts, but when they're actually investing in it, it's going to cost them a lot, which could lead to poor financial performance. And as you said, the technology is changing so quickly. So companies might adopt certain technology that might not be needed in the next five years.

Sophie: [00:19:28] Yeah, fascinating stuff. Well, we are going to take a quick break for our sponsors, but we'll be right back to learn about how we can invest in robotics and AI. So before the break, we discussed robotics and AI and what some of the advantages and disadvantages are. But in terms of actually, I guess adding this industry to my portfolio, I have to be honest, if it's not clear already, probably not my area of expertise.

Sophie: [00:19:57] Yeah, I feel like when it's not in an area of expertise, we usually turn to an ETF. Just because if we think that there's a bit more risk in it, as we spoke about earlier. Technology is rapidly changing. It's something you have to be hyper aware of. Usually an ETF might encompass everything that you're looking to invest in and diversify your risk. 

Maddy: [00:20:15] Yeah, I guess as opposed to having to go deep on one company that may or may not perform well overall over the long term. So did Google the other day when we were researching for the EP, We are your resident researchers this summer. And surprise, surprise, one of the first ones that came up was an ETF called Robo Play, listed on the ASX. So this is a global X ETF that seeks to invest in companies that potentially stand to benefit from increased adoption and utilisation of robotics and artificial intelligence. 

Sophie: [00:20:47] So when we were talking about this ETF researching, we were both saying that we had different areas of robotics that we're going to kind of like take off in the future. But we both actually had kind of differing thoughts of the area that we thought was going to take off the most, and we were trying to see if those areas were both in the ETFs. They would cover both of the areas that we thought. What was the area that you thought was going to take off? 

Maddy: [00:21:11] Well, one thing that I have been noticing a lot already, but is also a little bit of a pain point in my life is the food. And I'll include beverage, but is the food industry. 

Sophie: [00:21:22] I would love to know why food is a pain point in your life, because honestly, right now it's the only thing that makes me happy. 

Maddy: [00:21:27] Okay, let me clarify. Love, food. Love going out for food. The pain point is getting myself to the supermarket, getting myself back to the kitchen and cooking myself a nice meal. My housemates will vouch for this. I am the light. Love cooking, Love baking. When it's for other people, When I'm just cooking for myself over it.

Sophie: [00:21:48] So what do you why do you think robotics is going to why do you think the food part of robotics is going to take off?

Maddy: [00:21:54] Because it can do that for me. It can solve my problems. 

Sophie: [00:21:57] So you talking about robots going to the supermarket, coming to your door, dropping your stuff off? Yeah. Talked about the person that the robot is going to create for you. Okay, So does the ETF cover food? 

Maddy: [00:22:08] All right. So I found a company in there called Ocado Group. Hopefully, I'm pronouncing that correctly. So if it's interesting, it's based in the U.K. It's the world's largest online grocery store. And you can order online the robots pack and deliver your groceries for you. 

Sophie: [00:22:24] So you can just shop online and then a robot arrives at your door.

Maddy: [00:22:26] I think so. And it partners with supermarkets. 

Sophie: [00:22:29] Okay. So the supermarket industry is kind of set to benefit from these robotics, but Ocado is a company itself that provides it.

Maddy: [00:22:35] Yeah, and I think I like it because we know, like, supermarkets aren't going anywhere, right? Like, we all need to buy groceries. So if we can make it easier, if we can reduce the barriers to that very everyday thing that we all do, well, surely it's going to be a good thing. 

Sophie: [00:22:49] Were there any other food companies in the ETF? 

Maddy: [00:22:52] I did find another one. It's called Appharvest. It actually is develops indoor farms. So if you're into the sustainability space, this one could be for you. It does high tech indoor farms that grow up to 30 times more with 90 times less water. 

Sophie: [00:23:07] I'm always so shocked when I hear figures like that because I'm like, If someone's doing that, why aren't we doing that for everything, you know? And maybe it's because of the reasons I said it's expensive and it's costly.

Maddy: [00:23:19] And also, like farming is such a big and I feel like important industry, like it doesn't quite sit right with me, but I just replace them.

Sophie: [00:23:29] That's not what I mean. But, you know, with 90% less water, that's a hundred feet. Completely. Yeah. Crazy. 

Maddy: [00:23:35] What about you? What is sort of your vision for the robotics and our future? 

Sophie: [00:23:40] Well, I actually thought that the healthcare space was an area that robotics is really going to infiltrate. I think we're seeing a lot of big healthcare trends at the moment, like an ageing population, more chronic diseases, more infectious diseases. People need more surgery, they need more care, they need to be more hospitals. And for a big part of that, we don't have a lot of the human labour, you know, doctors and nurses to cover that. So I really think health is an area that, number one, will be able to replace humans from doing, you know, maybe the mundane jobs and focusing more on surgeries or whatever else. But then I also think that there'll be robotics that actually can do surgeries. You said earlier that human era, for example. Yeah. I think that robotics massively good for. And, you know, I always think like when you're doing when doctors are doing like heart surgeries on babies like that is so tiny and like, I don't know how we do it without motor skills. You know, maybe robotics cannot be the best right now in motor skills, but I think in the future it will really have a place to help in the health care system. 

Maddy: [00:24:42] Okay. So were you able to find any companies that sort of reflect this vision for the future within the robot ETF?

Sophie: [00:24:50] Yes, actually, one of the top holdings is Intuitive Surgical. And so one of the top holdings is Intuitive Surgical, and it develops manufactures and markets robotic products. And it's really about minimally invasive surgery. So it's kind of in that surgery space. And I feel like there's a couple of other companies in that area which cover life sciences and pharmaceuticals. And so I think the ETF takes that box because it has Yoko foodstuff, Michael Health goes of it. 

Maddy: [00:25:24] And a whole lot of other cool stuff as well. I think like this is a space that is seriously fascinating and sometimes writing about this stuff, it feels so futuristic, but it's pretty amazing to think that these companies exist now, and it's probably not that far away that we're going to be really seeing all of this stuff come into action.

Sophie: [00:25:42] Well, number one, it kind of reminds me of like the Jetson, Jetsons, Jetson, Jensen, Jensen's Jetson. 

Maddy: [00:25:49] That's the furniture company.

Sophie: [00:25:50] The Jetsons. The Jetsons. Number one, maybe I'll be like that. But then that's maybe the futuristic kind of. But then think about it. What were you using today? Give me three products you're using today. 

Maddy: [00:26:03] My laptop coffee machine and my Mac right now. 

Sophie: [00:26:09] Okay. Laptop, Probably built by robot. Coffee machine. Probably built by a robot. Oh, pretty much already is a robot because it does magical things. Mike not sure that's what I thought you would have maybe said. Your iPhone really feel like a robot. So robotics and AI's definitely already here. It's something, as you said, big companies are adopting. So I definitely think this, year, let's look towards robotics and I am where we're using it in everyday life. 

Maddy: [00:26:36] One final little test for you. From this ETF, I was quite interested to see where the companies are based because there are companies from all over the globe included. 

Sophie: [00:26:45] Germany. Guess where? 

Maddy: [00:26:47] Yeah. I want to know. Which countries do you think investing most in this space?

Sophie: [00:26:52] Can I give top three? 

Maddy: [00:26:53] Top ten. We're going to be really hot. Yeah. Top three. Let's go. Let's go. 

Sophie: [00:26:57] China, the U.S., and somewhere else in, like, Asia, maybe. Interesting. What are the top ten?

Maddy: [00:27:10] Okay. U.S. is number one. They definitely have the biggest holding by quite a bit. Japan. Number two. Okay. And Germany. Number three. 

Sophie: [00:27:18] Yeah, Makes sense. Both of them have big car manufacturing. That's a lot of robotics.

Maddy: [00:27:22] China actually came in at number six, followed by Britain in seven. And then you're really getting into Nordic countries of what, Sweden, Norway and Finland and. 

Sophie: [00:27:30] Nordic. Nordic. And I think that also makes sense because I feel like they're very innovative, have a lot of start-ups.

Maddy: [00:27:36] Yeah, it surprised me, but actually it does make sense. Yeah. It is summer. Hopefully you are enjoying some well-deserved time off at the end of the year. It's a great time to really catch up on some summer reading, listening, or watching in your spare time. 

Sophie: [00:27:52] I would just like to say also, if you're in Melbourne with us and it's cold, then it's still summer. And if you're in the northern hemisphere, I hope you're enjoying the snow. And if you're working, that's okay too. We are as well. Mads, what is your second summer recommendation? 

Maddy: [00:28:08] This week I am recommending an Ellevest article. I will include the link in our episode notes. It is called 23 Ways to Get Set Up for Money and Career Success in 2023.

Sophie: [00:28:19] Okay, so it's really like, let's set ourselves up. 

Maddy: [00:28:21] New Year's resolution vibes. I have a few things on my mind that I have been wanting to really get sorted, like cancelling subscriptions that I've been letting go on too long. trying to get a discount on my health insurance. I want to check out my super, but this list I found super helpful. Just like a go to spot to just remind you of those things that you should be getting on top of and using your spare time over the holidays to do so. 

Sophie: [00:28:44] Okay, perfect. LinkedIn. All right. 

Maddy: [00:28:45] What about you?

Sophie: [00:28:46] My second recommendation is actually a book, and I'm just going to caveat this by saying every year I make a New Year's goal to read like ten or 12 books here, and I usually get through three. But this I read in two days because it was such a page turner. So the book is Silent Patient by Alex Michaelides. Sorry if I pronounce that wrong. 

Maddy: [00:29:07] You definitely pronounce that wrong. 

Sophie: [00:29:08] Michaelides. 

Maddy: [00:29:09] Yeah, I think that's right. 

Sophie: [00:29:10] Yeah, I think I started in the First word. Apologies if that is wrong but it's called silent patient. It is a murder mystery and it's just such a page turner. Got it done in two days. So I feel like if you want to, if you've got a checklist to read another book, this summer read that one. 

Maddy: [00:29:29] Love it. Well, as always, if you have any questions about today's episode, please reach out to us on Instagram at YIGC podcast. 

Sophie: [00:29:38] And please feel free to share This episode with a friend. It is 2023. We have gone into the new Year. People are setting up new money goals. So share these on your WhatsApp, your Instagram, your messages,. 

Maddy: [00:29:50] Whatever format. You can join us on Facebook, a one and a half thousand strong community YIGC investing podcast discussion group. 

Sophie: [00:29:59] Otherwise you'll hear from us next week. That's on the series three. Episode three will catch you then. Bye