Apple introduced generative AI features at developers' conference, emphasizing personal, private, and integrated AI

From Morningstar: 2024-06-12 11:08:00

Apple unveiled generative artificial intelligence features at their worldwide developers’ conference. The company introduced Apple Intelligence, emphasizing personal, private, and integrated AI. To fully utilize Apple Intelligence, customers will need an iPhone 15 Pro. Stock saw a tepid reaction, with Morningstar maintaining a $170 fair value estimate and 2-star rating.

Apple’s first foray into generative AI was met with approval. The suite includes improved Siri functionality, writing assistance, image generation, and more. Emphasizing on-device model processing and privacy, Apple announced server upgrades using their semiconductors. Partnering with Open AI for larger questions, Apple’s hybrid approach aligns with their privacy strategy.



Read more at Morningstar: Apple: AI Strategy Should Drive Sales and Upgrades