Apple's AI functionality finally lands, investors seem "unconvinced"

Intelligent Finance APP noticed that on June 10th local time, Apple (AAPL.US) Worldwide Developers Conference (WWDC) kicked off, but investors seemed unexcited about the content of the "presentation" for WWDC 2024. At the end of Apple's keynote speech, the stock price fell by about 2%, closing with a 1.91% drop.This WWDC is seen by analysts as the most significant event for Apple in over a decade, as it will focus on artificial intelligence (AI), a missing piece in Apple's growth puzzle. Investors and customers are now eager to see what features Apple will introduce to address the fierce challenges in the AI field.The previously leaked new AI system from Apple, Apple Intelligence, has arrived as scheduled, integrated into the new OS of the above-mentioned iPhone, iPad, and Mac. Apple announced an upgraded version of the virtual assistant Siri powered by AI.In addition to the regular system updates like iOS 18, iPadOS 18, macOS Sequoia, watchOS 11, the long-rumored "Apple Intelligence" suite, and the collaboration with OpenAI finally made their debut. However, judging from the nearly 2% drop in stock price after the conference, the capital market is not satisfied with "Apple AI".What is "Apple Intelligence"? Which devices can use it?Apple defines Apple Intelligence as a personal intelligent system for iPhone, iPad, and Mac, utilizing the capabilities of Apple chips to understand and create language and images, and take actions across apps.Since it emphasizes chips & local operation, Apple Intelligence naturally has device restrictions. Currently, only two devices on the iPhone side can use it - iPhone 15 Pro and iPhone 15 Pro Max, while tablets and computers with M1 chips (and updated M series chips) support this feature.Apple stated that currently, Apple Intelligence only supports English, and both Siri and device language need to be set to English (US). The company will continue to update the features released today over the next year and support more languages and devices.In terms of specific AI functions, in the system-wide writing tools (mail, memos, Pages, and third-party apps) built into iOS 18, iPadOS 18, and macOS Sequoia, users can rewrite, proofread, and summarize text in all scenarios, achieving functions such as one-click grammar check, adjusting wording and tone, and checking for misspellings. In the "Mail" app, users can also view email summaries and receive suggestions for smart repliesSiri's appearance and functionality have been significantly upgraded, allowing it to perform hundreds of new operations in Apple and third-party applications. With the upcoming screen sensing feature, Siri will be able to understand user actions in real time within applications and provide feedback.Lastly, there is the integration between Apple and ChatGPT. Users can summon Siri and invoke ChatGPT in all system-wide writing tools to access functions such as chatbots and image generation. Apple users can access GPT-4o for free without creating an account, while ChatGPT subscribers can link their accounts and access premium features directly within the Apple system.ChatGPT will also be integrated into writing tools across the entire system. Apple will integrate ChatGPT into iOS 18, iPadOS 18, and macOS Sequoia later this year