Malaysia - based robo - adviser ##s is set to use artificial intelligence to buy stocks on the S&P 500 which comply with Shariah law . Roughly 125 stocks on the index meet the criteria . The firm will use data provided by California - based Maxsys AI to buy between 20 and 30 stocks for its portfolio . The process is a departure from the norm for most robo - advisers , which makes use of ETFs rather than stock - analysts to devise portfolios for clients .
Malaysia-based robo-adviser ALGEBRA is set to use artificial intelligence to buy stocks on the S&P 500 which comply with Shariah law. Roughly 125 stocks on the index meet the criteria. The firm will use software provided by California-based Maxsys AI to select between 20 and 50 stocks for its portfolio. The process is a departure from the norm for most robo-advisers, which make use of ETFs rather than stock-picking to devise portfolios for clients.