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Apple Investors Worried About AI

Apple is seemingly lagging behind other Big Tech firms when it comes to generative AI. Open AI’s Chat GPT is still at the top of the list, closely followed by Microsoft’s Copilot, Google’s Bard, and Meta’s Llama.

In a call with investors, Tim Cook mentioned the use of AI in iOS17’s technology, such as Personal Voice, where users can create renderings of their voice, and Live Voicemail. TechCrunch says:

Apple CEO Tim Cook pushed back a bit at the notion that the company was behind in AI on yesterday’s Q4 earnings call with investors, as he highlighted technology developments that Apple had made recently that “would not be possible without AI.” Specifically, the exec pointed to new iOS 17 features like Personal Voice and Live Voicemail as examples of its innovation with AI technologies. In addition, Cook confirmed Apple was working on generative AI technologies.

The features Cook called out aren’t necessarily thought of as AI by consumers, and that may be by design. Cook suggested that Apple doesn’t label the features as “AI” necessarily.

This is the second quarter where investors have been pushing for greater investment on Apple’s part, as reported by Yahoo Finance:

“We view AI and machine learning as core fundamental technologies that are integral to virtually every product that we build,” Cook said then, with only three words difference from Thursday’s comments. He also then listed fall detection, crash detection and the Watch ECG feature.

Chief executives often repeat themselves over the course of earnings calls, if for no other reason than to drive certain points home to analysts who appraise their companies and recommend actions to investors. And Apple is famous for keeping mum about its future product plans.

Unlike its competitors, Apple makes the majority of its revenue from hardware. Apple will need its own generative AI to compete, but for now can simply allow the other AI apps on its platforms.

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