Apple showcased AI integration at the WWDC 2024 Developer Conference, with revamped Siri, OpenAI partnership included. But updates fail to impress investors.
In a much-anticipated reveal, Apple introduced its new “Apple Intelligence” technology at its annual developer conference on Monday, showcasing its integration across various apps, including Siri, and bringing OpenAI’s ChatGPT to its devices.
During the nearly two-hour presentation, CEO Tim Cook and other executives demonstrated how Siri’s capabilities have been expanded to interact seamlessly with messages, emails, calendars, and third-party apps. Siri can now compose emails and adjust its tone to fit the context.
Known for its emphasis on user safety, Apple highlighted its commitment to privacy, setting itself apart from competitors like Microsoft and Google. However, despite the advanced features and privacy focus, Wall Street remained unimpressed, leading to a nearly 2% drop in Apple’s shares. Apparently, investors were looking for more groundbreaking AI advancements to ensure Apple’s competitive edge against industry leaders like Microsoft.
Apple’s consumer-focused approach contrasts with the enterprise-first strategies of its rivals. The company aims to persuade its over 1 billion users, many of whom are not tech enthusiasts, of the benefits of the new technology.
Despite these new features, Apple remains heavily dependent on iPhone sales, and analysts doubt that the AI enhancements will provide a significant short-term boost. Some experts say that Alphabet and Microsoft are in “better shape” following their initial moves towards AI tech, thanks to their cloud assets.