Apple tops Microsoft, regains title of world's most valuable company
What specific AI initiatives did Apple unveil that contributed to its stock rising by 5% during Wednesday's trading session?
Apple unveiled a variety of new AI-enabled features for its devices during its annual developer conference on Monday. At the conference, executives, including CEO Tim Cook, touted how AI will help voice assistant Siri better interact with messages, emails, calendars, and third-party apps. These AI initiatives contributed to Apple's stock rising by 5% during Wednesday's trading session. Market analysts praised the announcements, saying the new AI-enabled features will help drive iPhone sales and will boost the tech giant after it had been perceived as trailing behind its rivals in the AI race.
How did Apple's market valuation compare to Microsoft's after the recent surge in its stock price?
After the recent surge in Apple's stock price, its market valuation rose above $3.29 trillion, while Microsoft's market capitalization was at $3.24 trillion. This put Apple ahead of Microsoft, reclaiming the title of the world's most valuable company.
Can you detail the AI-enabled features introduced by Apple at its annual developer conference?
At its annual developer conference, Apple introduced a variety of AI-enabled features for its devices. These features are designed to help voice assistant Siri better interact with messages, emails, calendars, and third-party apps. Some of the specific AI capabilities that are going to be integrated into the upcoming iPhones include:
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Enhanced Siri: The new AI-enabled features will make Siri more conversational and intelligent due to deep integration with app functions. This is achieved through a partnership with OpenAI, which will enable system-wide ChatGPT access on iPhones.
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Custom emoji generation: Users will be able to create custom emoji based on their descriptions, which can be used in the Messages app.
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Photo editing: AI will enable users to edit photos using written or spoken commands.
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Audio transcription: AI-powered transcription for audio recordings will be introduced.
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Smart summaries: Users will be able to access smart summaries of content in Safari.
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Home screen customization: iOS 18 will introduce the ability to place icons and widgets anywhere on the Home screen, without the need to work down from the top-left corner. Additionally, a system-wide control for changing the colors of app icons will be included.
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RCS support: The Messages app will benefit from RCS support, which is the successor to SMS and MMS, and will offer a better experience for conversations between iPhones and Androids.
These AI-enabled features are expected to drive iPhone sales and boost the tech giant after it had been perceived as trailing behind its rivals in the AI race.