Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors are focused on earnings. Wall Street is anticipating solid earnings from the tech sector. Outside that group, however, the news flow on Tuesday was mixed. Global same-store sales at McDonald's were down for the quarter but it beat on other numbers. Meanwhile, Ford gave a muted full-year forecast that overshadowed better-than-expected results.
Related: Apple CEO Tim Cook's decision raises eyebrows
Turning to other business headlines: If you have a newer model iPhone, Mac, or iPad and things look a little different - they are - that’s because Apple has begun to roll out artificial intelligence features.
The new AI tools, which are dubbed Apple Intelligence, are available via software updates for the iPhone 16 and 15 Pro and Pro Max. AI software upgrades are available for Macs and iPads as well.
So what can Apple device users do now that they couldn’t do before? For one, they can now record a call, AI will transcribe the conversation, and save a summary of the call in the Notes app.
In addition, writing will be easier. AI can proofread, edit, and summarize users’ documents. Siri will be more streamlined to interact in a manner Apple describes as “more natural and conversational.” There are also AI tools to help better sort through saved photos and videos, and to make editing that content easier.
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Apple is in the midst of the early days of an AI race. Its main competitors Google and Microsoft are also putting AI tools at consumers’ fingertips. Apple needs to keep up in order to fortify sales of its most important device - the iPhone. There are concerns, however, that these new AI features may not be enough to convince enough consumers grappling with inflation and higher interest rates to upgrade to a newer, more expensive phone.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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