Tim Cook Tells Apple Staff, AI is 'Ours to Grab', Will Invest For It

After reporting strong June-quarter earnings, Apple Inc. Chief Executive Officer Tim Cook reportedly held a meeting with all of the company's employees. In what was described as a rare meeting, Cook energized Apple employees about the investment they plan to make in Artificial Intelligence and the “amazing” pipeline of products they will introduce.

This meeting was reported by Bloomberg, citing sources. It came just days after the iPhone maker reported $94.04 billion in quarterly revenue, up 10% year-on-year (YoY), well above Wall Street’s $89.35 billion estimate. iPhone revenue came in much stronger than expected at $44.58 billion (up 13% YoY), setting a June-quarter record and surpassing Wall Street’s $40.29 billion estimate.

During the earnings call, Tim Cook told analysts, “AI is one of the most profound technologies of our lifetime. And I think it will affect all devices in a significant way.”

His team at the call also noted that the company aims to make some acquisition deals to bring AI technology into its fold. According to the latest report, Cook told Apple employees that the AI revolution is “as big or bigger” than the internet and that “Apple must do this. Apple will do this. This is sort of ours to grab.” He added, “We will make the investment to do it.”

“The product pipeline, which I can’t talk about: It’s amazing, guys. It’s amazing. Some of it you’ll see soon, some of it will come later, but there’s a lot to see,” he said, according to the report.

During the hour-long conversation, Apple’s CEO reportedly gave examples of how the company has been late to new technologies but has invented the “modern” versions of those product categories. He reflected on how Apple entered the smartphone and laptop markets with the iPhone and Mac after initial competitors but later revolutionized them.

The meeting also covered various topics, such as the retirement of Chief Operating Officer Jeff Williams, growth in Apple TV+ viewership, and healthcare advancements with AirPods Pro’s hearing aid features. Cook reiterated Apple's commitment to carbon neutrality by 2030 and discussed the impact of regulations.

On retail strategy, Cook highlighted plans to expand into emerging markets, including new stores in India, UAE, China, and Saudi Arabia. He also expressed excitement about upcoming products, including a reportedly foldable iPhone, smart home devices, smart glasses, and new headsets, with a focus on innovation in robotics and a redesigned iPhone for its 20th anniversary.

According to Bloomberg, Craig Federighi, Apple's senior vice president of software engineering, also attended the meeting and discussed the future of Siri, the company's voice assistant. Originally, Apple had planned to roll out a Siri overhaul this year as part of Apple Intelligence, integrating user data to enhance its responses. However, the project was delayed due to issues with merging two systems: one for basic commands and another based on large language models for generative AI.

Federighi explained that a hybrid architecture didn’t meet Apple’s quality standards, prompting a shift to a new architecture for all of Siri's capabilities. The updated version is expected by next year, with a possible release in the spring.