Despite being behind, Apple has a history of dominating markets after being slow to release products, such as with iPods, smartphones, and smartwatches. Bank of America analysts predict that Apple will eventually lead the future of telecommunications with AI-powered smartphones, or "intelliphones". However, Bloomberg's Mark Gurman notes that Apple won't see financial benefits from AI-related sales for "years", as many AI features won't be available until next year.
Key takeaways:
- Apple has unveiled its AI initiative, Apple Intelligence, which includes AI-powered features for various applications, but experts believe the company is still far behind its rivals, Google and Microsoft.
- Analysts have mixed opinions on whether Apple can surpass Google in the AI smartphone market and Microsoft in the AI personal computer market, with some believing that future partnerships with AI innovators could give Apple an edge.
- Apple's financial benefits from AI-related sales are not expected for years, as many of the AI features won't be available until next year and the Apple Intelligence is launching in beta mode this fall.
- Despite being slow to release products in the past, Apple has managed to dominate multiple markets, and analysts from Bank of America anticipate that Apple will eventually lead the future of telecommunications with AI-powered smartphones, termed 'intelliphones'.