Analysis-Apple's AI push could reinvigorate iPhone sales as customers look to upgrade
)'s developer conference on Monday was about more than infusing its software with the latest artificial intelligence technology, including from ChatGPT.Facing choppy consumer spending and resurgent tech rivals, Apple has looked to AI as a way to invigorate its loyal fan base of more than 1 billion customers and to reverse a sales decline for its biggest-selling product.
The company showcased what it called Apple Intelligence, its take on generative AI that can conjure text, images and other content on command. "Perhaps there may be enough in the new and improved Siri-powered, intelligently Apple devices to stanch some of the device revenue that's been hemorrhaging lately, but there isn't enough to create a new band of followers," said Forrester analyst Dipanjan Chatterjee.
"We estimate 15%+ of the Apple installed base will upgrade to iPhone 16 as Apple Intelligence is the killer app many have been waiting for," Ives said.Gene Munster, a managing partner at Deepwater Asset Management, said another feather in Apple's cap was its easy-to-use integration with ChatGPT."They're really taking the friction out of using AI," he said.
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