Latest / Best of Business / Sam Dickie: Fisher Funds expert on Apple's bid to enter the AI arms race

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Sam Dickie: Fisher Funds expert on Apple's bid to enter the AI arms race · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks B follow
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  Speaker 1: together do for ce Alan Now.
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  Speaker 2: Apple have been considered something of an AI laggard because
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  Speaker 2: they hadn't announced any AI plans, but that's now of
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  Speaker 2: course changed, because it looks like we're going to get
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  Speaker 2: AI soon coming to us via our iPhones. Sam Dickey
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  Speaker 2: from Fisher Funds is with us to talk us through
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  Speaker 2: that evening, Sam, righty, This arms race AI arms race
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  Speaker 2: is fascinating. Where are we at in this race to
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  Speaker 2: drive the revenue and the profits from AI.
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  Speaker 3: Yes, there's been a lot of noise, but all these
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  Speaker 3: companies like Meta, Microsoft, Amazon, that are spending tens and
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  Speaker 3: in fact hundreds of billions of dollars are desperate to
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  Speaker 3: find the kind of killer app, the thing that you
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  Speaker 3: and I hear that will pay for to give them
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  Speaker 3: a return on their investment. And the first wave, as
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  Speaker 3: we know, was the natural language models, the single source
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  Speaker 3: of truth like M and I, Chat, GPT, Perplexity, Clawed, METAAI,
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  Speaker 3: the list goes on. Now it's still early days on that,
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  Speaker 3: but it looks like no one has really prepared to
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  Speaker 3: pay for that single source of truth and then the
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  Speaker 3: next potentially big opportunity is or Thomas vehicles or full
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  Speaker 3: self driving vehicles for everyone, but that's still we way away.
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  Speaker 3: And of course a genuine and I mean guine personal assystem,
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  Speaker 3: it's actually useful, unlike Alexa or hey Google, for.
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  Speaker 2: Example, why is Apple being considered a lag out here?
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  Speaker 3: Well, modern AIS kind of in play since November twenty
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  Speaker 3: twenty two, and almost every company on Earth since since
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  Speaker 3: then announced their AI strategy and I sort of say
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  Speaker 3: that playing cheek, and it's almost been a laughable competition.
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  Speaker 3: How many times can you mention AI on one earnings
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  Speaker 3: call for example? And Apple has been stummed. It hasn't
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  Speaker 3: said a word, so the market's been calling it an
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  Speaker 3: AI laggard, and it does remind me here to you
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  Speaker 3: and I talked a few months ago about Google when
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  Speaker 3: people were saying that company was an AI loser as well,
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  Speaker 3: which was kind of a serd. AI is one of
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  Speaker 3: the sorry, Google is one of the godfathers of AI.
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  Speaker 3: So this all seemed to change. Rapple this week at
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  Speaker 3: their their Worldwide Developers Conference.
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  Speaker 4: What is this Worldwide Developers Conference?
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  Speaker 3: So that's the annual flagship event. So all the big
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  Speaker 3: tech companies and most big corporates globally have a big
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  Speaker 3: sort of killer annual flagship event, and this is the
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  Speaker 3: one where they unveil their newest products. I'm sure you
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  Speaker 3: can probably all remember Steve Jobs walking around on stage
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  Speaker 3: with the original iPhone back in two thousand and seven
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  Speaker 3: or whatever it was. But they announced at this WWDC
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  Speaker 3: as it's called Apple Intelligence, which is basically an upgraded Surrey,
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  Speaker 3: among other things.
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  Speaker 2: Okay, what does this mean for us as consumers now?
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  Speaker 2: If we're going to get this stuff loaded on our iPhone.
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  Speaker 3: So among other things, it really means a super supercharged sery.
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  Speaker 3: There will actually be able to understand what you're saying,
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  Speaker 3: understand natural language. Better, it will be able to dig
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  Speaker 3: through your apps on your phone, assuming they get permission
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  Speaker 3: and secure instruction. So imagine a genuine personal as system
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  Speaker 3: that can send emails, book meetings, book taxi surf you're
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  Speaker 3: in New Zealand, app to see what time your flighters
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  Speaker 3: change that flight, pull up photos from years ago, all
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  Speaker 3: activated by your voice. And one of the examples they gave,
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  Speaker 3: which I think is not a bad example, it's not
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  Speaker 3: Keller is say you're taking a photo of your driver's
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  Speaker 3: license and is very deep in the bowels of your
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  Speaker 3: photos somewhere you can just say, Siri, give me my
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  Speaker 3: driver's license number, or surf your photos, Sam, How good
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  Speaker 3: is this?
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  Speaker 2: I mean the other day I tried to find my
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  Speaker 2: driver's license number and I had to eventually go and
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  Speaker 2: blinking will find my wallet in another room, which annoyed
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  Speaker 2: me so much. This is going to be a game
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  Speaker 2: changer then, potentially, isn't it?
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  Speaker 3: Well that that is the killer question that investors are
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  Speaker 3: grappling with, and maybe I think you've just answered it
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  Speaker 3: for me here there is will you upgrade your iPhone
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  Speaker 3: if the Siri is really a killer personal assistant? I
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  Speaker 3: think you just said yes.
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  Speaker 4: Well yeah, I mean, how much is it going to cost?
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  Speaker 4: Because I'm very tight?
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  Speaker 3: Well exactly so that this is from an investor's perspective.
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  Speaker 3: Apple Intelligence is only available on iPhones fifteen and above,
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  Speaker 3: so you know this is people are going to see
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  Speaker 3: how this plays out. But if this is a real,
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  Speaker 3: genuine personal assistant that will save you hours per week,
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  Speaker 3: potentially people will upgrade their iPhone and will drive an
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  Speaker 3: upgrade cycle. But one thing is for sure. The market
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  Speaker 3: thinks this will drive a huge iPhone upgrade cycle because
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  Speaker 3: the stock has added three to four hundred billion US
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  Speaker 3: dollars in market cap and two days alone since the
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  Speaker 3: Worldwide Developers Conference.
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  Speaker 4: Brilliant. So the investors are into it, are they?
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  Speaker 3: They are into it, that's right.
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  Speaker 4: Yeah, Hey, thank you, Sam, that's fascinating stuff. Really appreciate it.
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  Speaker 4: We'll talk to you again soon, Sam Dickie for your funds.
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