Apple has pinned its hopes on new artificial intelligence-powered software to boost flagging iPhone sales, with Wall Street betting that generative AI features will convince millions of consumers to buy the latest version of the best-selling device.
The tech giant unveils the iPhone 16 at its headquarters in Cupertino, California, on Monday. Consensus market expectations for new iPhone sales predict about 5 per cent revenue growth in 2025, thanks to an expected upgrade cycle driven by consumers lured in by new AI features.
The device will be the latest vehicle for the “Apple Intelligence” system showcased by chief executive Tim Cook in June. This includes a revamped Siri voice assistant, photo editing features powered by its own AI models, as well as a partnership with OpenAI that will give users free access to ChatGPT.