In a note on Monday, Jefferies analysts led by Edison Lee wrote that Apple’s announcements were “evolutionary instead of revolutionary.”
For one, new features were in line with expectations and still in the works, the analysts wrote. Far more importantly, the company lacks access to third-party app data, which they deemed critical for smartphone companies developing AI.
“In order for Apple to offer highly personalized AI capabilities via Siri, the lack of access to these third-party apps’ data will be a big limiting factor,” the analysts wrote. “Model is not the key, since a highly capable model still could not offer smart advice if it does not have enough app data to connect the dots.”