Apple (AAPL) has officially released updates for its iPhone, iPad and Mac software that includes the integration of ChatGPT artificial intelligence (AI) technology with its Siri digital assistant.
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The ChatGPT integration is reportedly triggered when users ask Siri complicated questions. When Siri is asked a question that Apple’s software identities as better suited for ChatGPT, it asks the user permission to access the service from privately held start-up company OpenAI.
Apple says that it has built in privacy protections to the new AI feature, and that OpenAI won’t store any requests that it receives from users. The latest version of ChatGPT, known as GPT-4o, is being used with Apple’s devices.
A Milestone for Apple
The iOS 18.2 software update is viewed as a milestone for Apple, which has been hyping its “Apple Intelligence” offering when marketing its latest iPhone 16 smartphones. Apple first announced the ChatGPT integration in June and its arrival has been highly anticipated by consumers and analysts.
Other features of Apple Intelligence include writing tools that can proofread or rewrite text, a new design for Siri that makes the phone screen glow, and notification summaries. The tech giant says it will release another AI update to its devices next year that includes significant improvements to Siri, including the ability for it to take actions inside of apps.
Users need an iPhone 15, iPhone 15 Pro, or any iPhone 16 model to install and use the ChatGPT AI integration. AAPL stock has risen 30% this year.
Is AAPL Stock a Buy?
Apple stock has a consensus Moderate Buy rating among 31 Wall Street analysts. That rating is based on 20 Buy, nine Hold, and two Sell recommendations issued in the last three months. The average AAPL price target of $242.51 implies 2.82% downside risk from current levels.
