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Apple will unveil its long awaited AI plans later this year, Tim Cook says 

The iPhone maker is pivoting away from plans to enter the electric car industry in order to devote resources to catching up with other tech titans on the use of AI.

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Apple intends to share its plans for generative artificial intelligence (AI) later this year, according to multiple reports citing the tech firm’s CEO, Tim Cook, who spoke during an online shareholder meeting yesterday.

So far, the iPhone maker has not released any AI applications to compete with Google’s Gemini, or ChatGPT from Open AI. However, Cook teased that more details would be revealed about his company’s plans for AI in the immediate future. 

“Later this year, I look forward to sharing with you the ways we will break new ground in generative AI, another technology we believe can redefine the future,” he said. 

According to Cook, Apple has taken note of the “incredible breakthrough potential for generative AI” and is thus “currently investing significantly in this area.” 

[See more: AI is transforming tourism, but experts say there are ethical considerations]

Observers pointed out that the word “AI” was used prominently during the meeting, instead of “machine learning” and “neural network,” which were terms that Apple normally employed in the past to refer to the technology. 

Cook’s announcement follows a recent Bloomberg report on Apple’s scrapping of its years-long plan to build an autonomous electric car in order to redirect focus to generative AI. 

Response to Apple’s pivot has drawn mixed reactions, with some analysts pointing out that the tech giant is late to the field. Bloomberg Intelligence analysts Anurag Rana and Andrew Girard, however, claim that it is “a good strategic move given the long-term profitability potential of the AI revenue stream versus cars.”

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