Apple’s eagerly awaited annual showcase on Monday seemed to overwhelm investors and analysts, because the technology giant has failed to provide the revolutionary progress of artificial intelligence that many hoped.
The presentation, led by the CEO Tim Cook, focused mainly on minor software upgrades, not doing much to relieve the increasing concerns that the iPhone manufacturer is lagging behind in the IA landscape rapidly evolving.
The market reaction was rapid and revealing.
Apple’s share price fell up to 1.9% during the main presentation, a decision that increased up to $ 65.3 billion (48 billion pounds sterling) on its market capitalization.
This sale highlights increasing frustration among investors concerning Apple’s perceived failure to keep up with the competitors on advanced AI developments.
This feeling may have been amplified by recent comments from the former influential Apple-influential designer, Sir Jony IVE.
Last month, while announcing its move of $ 6.5 billion (4.8 billion pounds sterling) to reach its IA Openai rival, Sir Jony apparently criticized Apple.
He struck the products “inherited” on the market and the technology of “decades” in them.
The OPENAI agreement aims to create a new generation of devices that could potentially contest the iPhone.
Incremential software adjustments, not AI jumps
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During the presentation of Monday evening, Apple put a significant emphasis on a range of visual improvements introduced into its operating systems.
A significant update included improved features for iPads, which can now work more like traditional Mac computers, with applications capable of operating under Windows.
However, these updates have been considered insufficient to respond to the main concerns about Apple’s strategy.
In a note to investors, Daniel Ives, analyst at Wedbush Securities, described the event “overall a yawn”, adding that the patience of investors was “thin”.
This follows years of reverse reported for Apple as it strives to compete in the arena of artificial intelligence.
While Apple was an early AI adopter with its vocal assistant Siri, its rivals have since made rapid progress, undoubtedly exceeding its technology.
Indeed, last month, the CEO Tim Cook recognized during a profit call that “we need more time to finish our work on the features of Improved Siri so that they respect our high quality bar”.
However, Monday, Apple did not announce the important AI for Siri.
Reports have suggested that progress in improving SIRIs with models of large languages has been hampered by technical complications.
Access to developers and new call features: Ai Bright Spots?
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The most notable announcement linked to the AI of the annual showcase was that Apple would grant software developers access to AI technology integrated into its recent devices.
Apple’s software manager, Craig Federighi, expressed his optimism about this decision:
We think that will ignite a whole new wave of intelligent experiences in the applications that users have every day. We can’t wait to see what the developers create.
Apple has also introduced a live translation function for telephone calls, allowing users to speak, for example, in English to a French -speaking individual and to have their words translate and read in real time and read in real time.
In addition, the company has unveiled a call screening function designed to function as a personal assistant, automatically responding to calls from unknown numbers and requesting information so that the user can decide to accept the call.
Despite these new features, global perception was a missed opportunity in the field of AI.
Thomas Monteiro, analyst at Investing.com, summed up this feeling:
In a moment when the market questions Apple’s ability to take all kinds of track in AI space, the announced features felt in the best incrementality.
The event has left many questions about Apple’s next significant decision to recover a leadership position in artificial intelligence.
