Apple Gets an AI Siri Upgrade

By Douglas A. McIntyre Published May 31, 7:10AM EDT

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Apple Gets an AI Siri Upgrade — © nito100 / iStock via Getty Images

24/7 Insights

AI enhancements to Siri are coming to the iPhone.
Will that be enough to reenergize Apple Inc. (NASDAQ: AAPL | AAPL Price Prediction) investors?

The time may have come for those looking for a possible Apple Inc. (NASDAQ: AAPL) turnaround and an AI-based set of products. Early improvements in Siri driven by artificial intelligence will start this year, and a fully featured version will launch with iOS 18 next year. However, that pace may be a disappointment.

According to Bloomberg, “The new system will allow Siri to take command of all the features within apps for the first time.” The report added, “Apple is preparing several features, including voice memo transcriptions and summaries, quick recaps of websites and notifications, automated message replies, advanced photo editing, and AI-generated emojis.”

Is This Enough for Investors?

Time to get excited by Apple stock again?

Will the Siri improvement be enough to move the needle for shareholders? The stock is down 1% this year, while the S&P 500 is up about 10%. It will not be clear whether there have been revolutionary upgrades in the iPhone until the launch of the new version in September.

Investors want Apple to show it can make a significant AI play. Its AI initiatives so far have been left behind those of Microsoft, Alphabet, and Amazon. Microsoft Corp. (NASDAQ: MSFT), in particular, has shown it can integrate AI into many of its software products. And it has an extremely close relationship with OpenAI, the largest software company in the AI sector.

Rumors suggest the next-generation iPhone will be thinner than previous versions. As has been true in most recent years, it will have a better camera and more powerful processor. None of these is likely to be such a huge change from the Apple 15 that it will cause a surge in new sales. Apple needs to show it can do more with AI than bring an upgrade of Siri to the table.

Could an iPhone Supercycle Drive Apple’s Stock Price to $275 per Share?

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.