Apple CEO Tim Cook says company is 'investing significantly' in generative AI

Apple CEO Tim Cook said Wednesday that his company is pouring money into artificial intelligence, one of the strongest signals yet that the iPhone maker is embracing the generative AI craze that's consumed the tech industry.

The company sees "incredible breakthrough potential for generative AI, which is why we're currently investing significantly in this area," Cook said at Apple's annual shareholder meeting, which was held virtually. "We believe it will unlock transformative opportunities for our users when it comes to productivity, problem-solving and more."

Apple hasn't unveiled competing products to models like OpenAI's GPT or Google's Gemini, but he teased a major announcement coming this year.

"Later this year, I look forward to sharing with you the ways we will break new ground in generative AI, another technology we believe can redefine the future," Cook said.

He also reframed several announced Apple products as "AI-powered," to emphasize that the company has been working on the technology for years. In the past, the company tended to avoid the term AI in favor of machine learning.

Current features that use Apple's AI technology include the Vision Pro's hand-tracking tool and Apple Watch's heart rate alerts, Cook said. He also said that Apple's chips inside its MacBooks are capable of running AI.

"AI is woven into our users' lives for all sorts of tasks, from the everyday to the essential," Cook said. "AI allows Apple Watch to help you track your workouts, automatically detecting whether you're taking a walk or going for a swim. It enables your iPhone to call for help if you're in a car accident."

Apple often announces new software products and features in June at its annual developer's conference.

At the meeting, Cook