Apple's privacy-focused artificial intelligence (AI) platform Apple Intelligence has been endorsed by investment firm Rosenblatt Securities. The company's approval comes after a survey revealed that privacy is the top feature US consumers want in AI. Of the 500 respondents, 17.8% ranked privacy as their most important feature, a significant 5.6 percentage points higher than the next-ranked feature.
Analysts at Rosenblatt noted that Apple's emphasis on privacy, particularly with its Private Cloud Compute, could position the tech giant to gain more brand interest and AI market share. This focus on privacy, combined with Apple's history of strong advertising privacy safeguards, sets the company apart from competitors that have experienced AI privacy setbacks.
Based on these findings, Rosenblatt upgraded Apple's stock to “buy,” effectively supporting Apple Intelligence. Other research analysts have also weighed in on Apple, with Bank of America reiterating a buy rating and issuing a $230.00 price objective on Apple shares. Tigress Financial and DA Davidson also raised their price targets and gave the company strong buy ratings.
Rosenblatt analysts further noted that Apple's AI capabilities, including specialized large language models (LLMs) and Apple's silicon, could shield the company from cost pressures affecting the rivals They noted that Apple's spending was not increasing at the same rate as competitors such as Google, Amazon, Meta and Microsoft.
Apple's privacy-focused approach to AI has been well received by experts, despite the company's late entry into the AI field compared to its rivals. The company's AI strategy, which prioritizes user privacy, could lead to increased market share and force other companies to follow suit.
As AI technology continues to develop rapidly, privacy issues remain a major concern. However, with surveys confirming the importance of privacy to consumers, it looks like Apple's AI strategy is paying off.
the mail Apple Intelligence approved for privacy-focused AI, driving market share appeared first NewsGPT.ai.
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