A major event has rocked the tech world. Apple has announced a partnership with OpenAI, the creator of ChatGPT. Through this collaboration, the iPhone maker will integrate the ChatGPT chatbot into its products.
The partnership was unveiled at Apple’s annual developers conference. This move comes as the tech giant aims to expand its capabilities in artificial intelligence (AI). This innovative technology has already created a buzz in the market.
Previously, investors were skeptical about Apple adopting new generative AI features. However, the company is now keen on this direction, as it has been lagging behind its Big Tech rivals. According to Tim Cook, Apple’s CEO, the new Apple Intelligence system is the “next big step for Apple.” This development aims to enhance Siri and provide more personalized suggestions using AI.
Despite the exciting news, Apple’s stock dipped 1.9% after a recent surge. This trend indicates that Wall Street was hoping for a more significant AI update.
“The lack of a game changing AI product intro/software suite is likely a negative for [near-term] iPhone demand as well as investor sentiment," analysts at UBS said.
