NEW YORK, July 30 (Reuters) - Goldman Sachs Asset Management

has launched an artificial intelligence investing platform,

AlphaAI, betting that AI will become an important driver of

investment returns across its public and private market

businesses.

Lou D'Ambrosio will lead AlphaAI, as chairman of

Artificial Intelligence for Asset Management, according to an

internal memo seen by Reuters.

"We believe AI is both reshaping industries and acting as

a force multiplier in how we invest," said Marc Nachmann, global

head of Goldman's asset and wealth management arm, in the memo.

D'Ambrosio led the Value Accelerator, which he founded in

2018, chairs the firm's AI Investing Leadership Council, and

previously served as CEO of both private and public companies.

"We expect AI to drive greater dispersion within sectors,

not just across them, and that isn't necessarily reflected in

prices," D'Ambrosio told Reuters in an email.

"AlphaAI is built to find it, drawing on what we see across

the breadth of our public and private markets business, and what

we're learning inside our portfolio companies - where we already

have over 100 scaled AI use cases," he said.

Darius Adamczyk, who has co-led the Value Accelerator,

which helps portfolio companies grow and create value by using

the Goldman Sachs ( GS ) network, will assume global leadership

of the business, the memo said.

"Over nine years we've embedded more than 100 operating

executives directly into our investment process, and the job now

is to continue to add process, talent and execution rigor as we

partner with strong management teams to drive growth, expand

margins, and build great companies," Adamczyk said.

Exchange-traded funds focused on AI are proliferating, even

while it remains unclear which companies will emerge as the

long-term winners from the latest technology revolution.

Funds and ETFs domiciled in the U.S. investing in the AI

theme manage a total of $40.5 billion, according to data from

Morningstar.

Defiance Quantum ETF, which manages $4.88 billion and

focuses on quantum computing, machine learning, and enabling

technologies, is among the largest funds.