It was quite a week on the Tech Scene as Apple launched its' partnership with OpenAI and began an interesting quest--Our team decided to feature this courtesy the team at Robinhood as we will continue to assess over the ensuing weeks and months:
| It couldn’t have been an email. (Justin Sullivan/Getty Images) | |
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Yesterday’s Market Moves | | Dow Jones
38,868 (+0.18%) | S&P 500
5,361 (+0.26%) | Nasdaq
17,193 (+0.35%) | Bitcoin
$69,558 (-0.11%) |
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Hey Snackers, Japan’s population has been shrinking for decades. Tokyo’s solution to solve plummeting birth rates? A dating app. Users are required to pledge they aren’t looking for anything casual. The S&P 500 and Nasdaq rose yesterday to fresh highs. Tomorrow’s a big day for US markets with May’s consumer-inflation report due and the Fed’s interest-rate decision. Traders expect the central bank will keep rates steady after last week’s hot jobs report. | |
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Apple heaps on the AI at its big conference, while promising to protect users’ privacy | Huge news… The calculator app’s coming to iPad and genAI is coming to iOS. Apple gave its own spin on artificial intelligence during its annual developers’ conference yesterday, calling “personal intelligence” its “next big step.” It introduced Apple Intelligence, which infuses gen-AI functions across apps. It can be tapped to rewrite, proofread, and summarize text (think: change the tone of an email, edit a breakup text, sum up an article). And to liven up the group chat, it can turn written ideas into images or create custom emojis (“Genmojis”). Siri’s makeover: Apple said Siri is better at understanding (its one job, really) and will now let you type requests. Siri can pull info from different apps to better answer your q’s — like finding your partner’s flight info in your texts and cross-referencing it with flight-tracking data and Maps to tell you when you should head to the airport. OpenAI partnership: Apple confirmed it’s teaming up with OpenAI, allowing users to ask ChatGPT questions and generate images and text within Apple’s tools. Say you ask Siri how to make a five-course meal using lemon-lime Gatorade and Pop-Tarts. Siri will probably ask you if it’s OK to offload that advanced query to CGPT.
Privacy push… As device demand slows, tech companies are looking to AI-infused phones and PCs to juice hardware sales. Apple said its system “sets a new standard for privacy in AI.” It’ll process data on-device for many AI tasks, and when the request is too complicated to complete locally, it’ll send it through its new Private Cloud Compute service. Plus, Siri will ask users for their consent before it offloads their questions to ChatGPT (still, Elon Musk threatened to ban Apple devices at his companies). As AI scrutiny intensifies, Apple appears to be drawing boundaries between its offerings and OpenAI’s — which have been the subject of some regulatory messiness. |  | THE TAKEAWAY |
| Apple’s caution is strategic… It’s moved slower than its rival Big Techies on AI, but that may’ve been calculated. By outsourcing some of its AI to ChatGPT and keeping other functions on-device, Apple can stay focused on the two things that have made it shine: hardware and privacy. Instead of sinking billions into AI chips like its rivals, Apple can tap into AI to level up its tech while maintaining a safer distance. Read this online |
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