Apple unveils Apple Intelligence at WWDC

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Apple’s take on artificial intelligence.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.

00:04Both the S&P 500 and Nasdaq started off the new week by setting yet another record closing high.

00:10It came amid small market moves ahead of the Federal Reserve's two-day meeting, which begins on Tuesday.

00:16Investors are not expecting any interest rate changes this time around.

00:20Speculation about the timing of the first rate cut since the pandemic are fluctuating,

00:25with expectations for a September cut diminished to just about 50 percent.

00:31In other news, Apple finally took the wraps off its long-awaited A.I. strategy.

00:36For Apple, A.I. isn't short for artificial intelligence. It's short for Apple intelligence.

00:43Right off the bat, Apple says it has put in security measures to address privacy concerns due to the spread of A.I.

00:50A smarter Siri is at the heart of Apple's A.I. rollout. Apple says ChatGPT will be integrated into Siri.

00:58A.I. Siri will respond to both voice and text prompts.

01:01The enhanced digital assistant will use A.I. to navigate through all Apple-powered apps on your device

01:07to provide more information, images and suggestions, as well as take data from one app and share it with another app.

01:15Apple's A.I. features will be included in software upgrades for all Apple products coming this fall, including iOS 18.

01:23Judging from the stock's reaction, investors were unimpressed. Shares of Apple fell 2 percent after the announcement.

01:30Tech rivals like Samsung, Google and Microsoft have already unveiled similar A.I. options.

01:36That'll do it for your daily briefing from the New York Stock Exchange.

01:39I'm Conway Gittins with The Street.

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