CEO Tim Cook Emphasizes Company’s Commitment to AI, Investing in New Technologies

In a call with investors on Thursday, Apple’s CEO Tim Cook signaled that the company is taking its plans to catch up in the AI market more seriously. Cook emphasized that Apple sees AI as a key technology that will shape the future, and that the company is investing heavily in its development.

“We are embedding AI across our devices and platforms and across the company,” Cook said. “We are also significantly growing our investments.” Cook added that Apple’s AI strategy is centered around making advanced technologies accessible to everyone, and that the company has a strong team working on the project.

Apple has faced criticism for being slow to adopt AI technology, with some accusing the company of being caught off guard by the AI era. However, Cook defended the company’s approach, saying that it is better to focus on quality and accuracy rather than rushing to market with untested features.

“We don’t need to rush,” Cook said. “Launching the wrong features or the wrong products just to be first would be a mistake. That’s especially true if those products don’t work as promised.”

Despite the criticism, Apple has made significant strides in developing its AI capabilities. The company has launched over 20 Apple Intelligence features, including visual intelligence, cleanup, and writing tools. These features are designed to enhance the user experience and make Apple devices more intelligent and intuitive.

One of the most notable features is the improved Siri, which is expected to be launched later this year. However, the more personalized Siri updates have been delayed until 2026. Cook said that the company is “making good progress” on the update, but did not provide a specific timeline for its release.

In a separate comment, Cook responded to Meta CEO Mark Zuckerberg’s suggestion that AI glasses could be the future of interacting with AI technology. Cook disagreed, saying that he could not see a world where iPhone’s were not a part of the AI ecosystem.

“It’s difficult to see a world where iPhone’s not living in it,” Cook said. “That doesn’t mean that we are not thinking about other things, as well, but I think that the [AI] devices are likely to be complementary devices, not substitutions.”

Apple’s commitment to AI has been reflected in its financial performance, with the company delivering better-than-expected iPhone sales and record revenue in Q3. The company’s stock price also saw a significant increase in after-hours trading.

The company’s shift in focus towards AI comes as the tech industry continues to evolve and adopt new technologies. With Apple’s commitment to AI, the company is poised to play a key role in shaping the future of the industry.

Apple’s AI investments are also driving increased capital expenditures, which were up year-to-date, the company said. Additionally, Apple has been open to mergers and acquisitions (M&A) to accelerate its AI plans. The company has already acquired seven companies this year, although Cook said that none of the deals were “huge” in terms of dollar amount.

The tech industry is expected to continue to evolve rapidly in the coming years, with AI playing a key role in shaping the future of technology. Apple’s commitment to AI is a significant development in the industry, and it will be interesting to see how the company’s plans unfold in the coming months and years.

Key Takeaways:

• Apple is taking its plans to catch up in the AI market more seriously, with a focus on investing in new technologies and making them accessible to everyone.
• The company has launched over 20 Apple Intelligence features, including visual intelligence, cleanup, and writing tools.
• The improved Siri update has been delayed until 2026, although Cook said that the company is “making good progress” on the update.
• Apple’s commitment to AI has been reflected in its financial performance, with the company delivering better-than-expected iPhone sales and record revenue in Q3.
• The company is open to mergers and acquisitions (M&A) to accelerate its AI plans, and has already acquired seven companies this year.