22 November 2024

The 'consumer AI revolution' will be powered by Big Tech's most familiar products

Rocio Fabbro

Big Tech wants to put artificial intelligence in your pocket, your palms, and your home.

Meta (META), Apple (AAPL), Amazon (AMZN), and Google (GOOGL) are spending billions of dollars and marshaling vast resources to incorporate AI into some of the most familiar consumer technology products, as they look to benefit from and accelerate the rapid adoption — and business upside — of the new tech.

Meta has incorporated its AI chatbot into its popular social media platforms Instagram and Facebook. Apple finally rolled out its own AI suite, Apple Intelligence, in late October. Google has built AI summaries into its market-dominant search engine and rolled out its own chatbot, Gemini. And an AI upgrade to Amazon’s smart home device Alexa is in the works — though it has reportedly struggled to get it out the door.

“What is most important is that the user behavior needs to be established,” said Tejas Dessai, director of research at Global X, an investment management firm that issues exchange-traded funds. “What you’re seeing with so many people using tools like ChatGPT, for example, is that they’re getting accustomed to using these technologies on a regular basis. And once that happens, people start to build intuition for these functionalities.

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