Apple (AAPL) Has Built a ‘ChatGPT-Like’ App to Test New Features – TipRanks
Tech giant Apple is working on a major upgrade to Siri.
Tech giant Apple (AAPL) is working on a major upgrade to Siri. Indeed, Bloomberg reported that Apple has built an internal “ChatGPT-like” app to try out new features before releasing the next version of Siri. The app won’t be available to the public but instead is being used by employees to test the technology and give feedback on whether a chatbot-style format is useful.
This internal app functions much like other chatbots by letting users hold multiple conversations on different topics, save and revisit past chats, and continue longer back-and-forth discussions. Still, Apple leaders are not fully convinced about chatbot-style interfaces. In fact, Apple’s Craig Federighi explained earlier this year that the firm doesn’t want to create a separate chatbot but instead wants to design AI that feels naturally built into everything users do. This shows that the company is being careful about how it introduces AI features to customers.
As a result, Apple is developing two versions of the new Siri. One uses its own AI models, and another is powered by outside models, such as those from Google (GOOGL). The goal is to launch the upgraded Siri by next spring with improvements like in-app actions and personalized context. At the same time, Apple is also working on a project called “Answers,” which hopes to build a ChatGPT-style search tool using its own AI.
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 17 Buys, 14 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $251.24 per share implies 1.5% downside risk.
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