Apple is finally putting its AI plans in the spotlight

Apple Inc (NASDAQ:AAPL) today kicks off what is predicted to be a five-day AI extravaganza.

In AI, Apple could yet land a real “slower mover’s advantage”.

Microsoft, Apple’s rival in the home computer tech arms race of the nineties, and Google, Apple’s rival in the mobile tech arms race of the noughties, have both moved faster to set out their stalls in the newly emerging AI era.

Now, Apple is expected to use this year’s annual developer’s conference – the World Wide Developer Conference (WWDC) to give the tech developer community its vision for AI, along with its planned integrations across the Apple suite of hardware and software.

WWDC 2024 is a five-day event, beginning today (10 June) running through to Friday (14 June).

Today, chief executive Time Cook will deliver the event’s keynote speech.

Biggest Apple event in a decade

WWDC24 will be Apple’s “biggest event in over decade”, according to West Coast stockbroker Wedbush.

“We believe will kick off an AI driven accelerated growth cycle on the iPhone and Services that will be the narrative of the Apple story for the coming years.

“In our view, WWDC represents the most important event for Apple in over a decade as the pressure to bring a generative AI stack of technology for developers and consumers is front and center with Cook & Co set to make history for Cupertino.”

He added: “We believe AI technology being introduced into the Apple ecosystem will bring ample monetization opportunities on both the services as well as iPhone/hardware front.”

AI could boost Apple’s growth story to the tune of $30 to $40 per share, as it expands monetisation possibilities across the installed base of some 2.2 billion iOS devices.

The internet, predictably, is full of excitable speculation about what could be unveiled by Apple in the coming days.

Here’s a quick list of some of them …

• An Apple-centric branding exercise for “Apple Intelligence”, versus Artificial Intelligence.

• A formal announcement of Apple’s partnership with OpenAI, including an OpenAI chatbot for Apple devices

• An OpenAI powered, iCloud based Apple LLM

• AI tools for iPhone, iPad, and Mac platforms

• Siri could be enhanced by AI models

• AI enhanced photo capabilities in iPhone camera apps

• AI enhancements for the Apple Watch

• Updates to the Vision Pro VR/AR headsets

• An ‘AI App Store’ is expected, to stimulate third-party developers to create and deliver AI-related apps for Apple devices

• No actual hardware announcements are expected this year

Whatever actually emerges from Apple in the coming days, it is sure to find plenty of limelight from Apple enthusiasts.