Earnings Call: Tim Cook answers questions about Apple's AI development

The announcement of the company's figures for the fourth quarter of the 2023 fiscal year was also accompanied by the usual earnings call at Apple. The past few months will be discussed in front of shareholders and investors and their questions will be answered. As part of the question and answer session, Apple CEO Tim Cook was asked about the development of generative AI. According to his answer, it is under development, investments are definitely being made in it and Apple plans to deal with the issue responsibly. Services with generative AI would be rolled out piece by piece.

At Apple, artificial intelligence (AI) and machine learning have long been part of various functions on all devices. But there is also a lot of investment in generative AI. It should be integrated into Apple's offering piece by piece.
At Apple, artificial intelligence (AI) and machine learning have long been part of various functions on all devices. But there is also a lot of investment in generative AI. It should be integrated into Apple's offering piece by piece.

AI and machine learning already included in Apple functions

"If you look at what we've done with AI and machine learning and how we've used them, they're fundamental technologies in every product we sellsaid Tim Cook on the topic of AI development. Because not only chatbots and image generators are AI, but also in Apple functions like Own voice / personal voice, fall detection, accident detection (iPhone / Apple Watch) and ECG interpretations contain artificial intelligence and machine learning. “We don't refer to them as such because we named them based on their utility, but the underlying technology behind them is AI and machine learningCook continued.

Generative AI: Chatbots and more should be developed responsibly

"As far as generative AI is concerned, we are of course working on it. I won't go into detail because we don't really do anything like that, but you can be sure that we are investing. We invest a lot ['quite a bit' was used as a paraphrase, note]. We will do this responsibly. You will see product improvements over time that focus on these technologies.“ – So there won't be a big AI show where Apple presents its own versions of ChatGPT, Midjourney and the like. Rather, generative AI should be used to improve or expand existing offerings.

Current company figures: Information on Apple's sales and profits

As already mentioned at the beginning, the statements about Apple's AI developments and investments went hand in hand with the presentation of the last quarterly figures. There is one for that official press release, from which you can also download the consolidated financial statements as a PDF. The iPhone and services are once again carrying the company, while Mac demand has fallen significantly. Overall, quarterly revenue of $89,5 billion fell 1% compared to the same quarter last year. However, earnings are $1,46 per diluted share, an increase of 13% year-on-year.

"Our active installed device base has once again reached an all-time high across all products and all geographies, thanks to the strength of our ecosystem and the unparalleled loyalty of our customerssays Luca Maestri, CFO of Apple. “In the September quarter, our business performance resulted in double-digit earnings per share growth and we returned nearly $25 billion to our shareholders as we continue to invest in our long-term growth plans.“ – Regarding the payment of the dividend, it is said that 0,24 US dollars per share was decided. This will be paid out on November 16, 2023. Further details in the linked press release. (Other sources: 1, 2)

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