Apple reportedly approved an update to Tencent Holdings\u2019 WeChat app, just in time for the release of the iPhone 16.
\nThe move by Apple allows for further negotiations between the two companies regarding changes that Apple has demanded for the social media platform, Bloomberg reported Thursday (Sept. 5), citing unnamed sources.
\nApple\u2019s approval of the WeChat update for the iOS ecosystem is expected to end speculation in China that the dispute between the two companies over Apple\u2019s app store fees could have resulted in WeChat being excluded from the latest iPhones, according to the report.
\nThe disagreement between Apple and Tencent centers around Apple\u2019s demand for a share of the transactions made through WeChat\u2019s mini-games platform, the report said. Apple wants Tencent to block links to external payment services within these mini-games and prevent developers from using the platform\u2019s built-in messaging to direct gamers to other payment portals, thus avoiding paying Apple its usual 30% cut.
\nWhile Tencent has rejected Apple\u2019s request to disable in-game messaging entirely, the company is still engaged in talks with Apple about a potential compromise for future updates, per the report.
\nTencent Chief Strategy Officer James Mitchell said the company is negotiating a revenue-sharing deal with Apple to allow it to accept payments in mini-games using Apple\u2019s system, according to the report. Mitchell expressed hope that the ongoing discussions would lead to a positive outcome, but if not, the current status quo would continue.
\nApple\u2019s policies in maintaining the quality and security of its app ecosystem are well-known worldwide, the report said. However, the company\u2019s actions in China, including warning Tencent and ByteDance about in-app payment policies, have raised concerns about alienating creators in a crucial market.
\nWeChat is widely used in China, with nearly 1.4 billion people relying on the app for various purposes such as paying bills and booking movie tickets, per the report. However, while many payments made through WeChat are exempt from Apple\u2019s fees, in-app content and other online entertainment, such as mini-games, are subject to the iOS charges.
\nThe post Report: Apple Approves WeChat Update, Allows Time for Fee Negotiations appeared first on PYMNTS.com.
\n", "content_text": "Apple reportedly approved an update to Tencent Holdings\u2019 WeChat app, just in time for the release of the iPhone 16.\nThe move by Apple allows for further negotiations between the two companies regarding changes that Apple has demanded for the social media platform, Bloomberg reported Thursday (Sept. 5), citing unnamed sources.\nApple\u2019s approval of the WeChat update for the iOS ecosystem is expected to end speculation in China that the dispute between the two companies over Apple\u2019s app store fees could have resulted in WeChat being excluded from the latest iPhones, according to the report.\nThe disagreement between Apple and Tencent centers around Apple\u2019s demand for a share of the transactions made through WeChat\u2019s mini-games platform, the report said. Apple wants Tencent to block links to external payment services within these mini-games and prevent developers from using the platform\u2019s built-in messaging to direct gamers to other payment portals, thus avoiding paying Apple its usual 30% cut.\nWhile Tencent has rejected Apple\u2019s request to disable in-game messaging entirely, the company is still engaged in talks with Apple about a potential compromise for future updates, per the report.\nTencent Chief Strategy Officer James Mitchell said the company is negotiating a revenue-sharing deal with Apple to allow it to accept payments in mini-games using Apple\u2019s system, according to the report. Mitchell expressed hope that the ongoing discussions would lead to a positive outcome, but if not, the current status quo would continue.\nApple\u2019s policies in maintaining the quality and security of its app ecosystem are well-known worldwide, the report said. However, the company\u2019s actions in China, including warning Tencent and ByteDance about in-app payment policies, have raised concerns about alienating creators in a crucial market.\nWeChat is widely used in China, with nearly 1.4 billion people relying on the app for various purposes such as paying bills and booking movie tickets, per the report. However, while many payments made through WeChat are exempt from Apple\u2019s fees, in-app content and other online entertainment, such as mini-games, are subject to the iOS charges.\nThe post Report: Apple Approves WeChat Update, Allows Time for Fee Negotiations appeared first on PYMNTS.com.", "date_published": "2024-09-06T11:57:12-04:00", "date_modified": "2024-09-06T11:57:12-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/09/Apple-1.jpg", "tags": [ "Apple", "Mobile Applications", "News", "PYMNTS News", "Tencent Holdings", "wechat", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2079115", "url": "https://www.pymnts.com/apple/2024/one-upsmanship-huawei-will-debut-epoch-making-smartphones-hours-after-apples/", "title": "One-Upsmanship? Huawei Will Debut \u2018Epoch-Making\u2019 Smartphones Hours After Apple\u2019s", "content_html": "Will Apple\u2019s big product rollout be overshadowed by one of its biggest competitors?
\nThe iPhone maker is scheduled to announce its new slate of devices on Sept. 9, with China\u2019s Huawei planning a similar event hours later, Bloomberg News reported Monday (Sept. 2).
\nAccording to the report, Huawei\u2019s consumer group chief Richard Yu announced the event on social media platform Weibo, describing the company spending five years to create \u201can epoch-making product.\u201d A source told Bloomberg Huawei plans to introduce the world\u2019s first commercial-ready smartphone that folds twice, along with an Aito electric vehicle launch.
\nBloomberg said that Yu has been spotted using the new device, known as a \u201ctrifold,\u201d which offers the ability to fit an even larger, tablet-style screen within the dimensions of a standard smartphone. Other Chinese device makers like Honor Device and Xiaomi are also working on new iterations of the foldable phone.
\nThe report noted that Huawei had dethroned Apple from the top five device makers during the June quarter, and argued that scheduling its event on the heels of Apple\u2019s is a sign the company is ready to face off against the tech giant once more.
\nApple\u2019s event, meanwhile, will showcase devices like the iPhone 16. The rollout, happening at the Steve Jobs Theater at Apple Park in Cupertino, California, is dubbed\u00a0\u201cIt\u2019s Glowtime,\u201d an apparent reference to the interface used by the digital assistant Siri on the Apple\u2019s newest devices.
\nThe iPhone 16 is due to go on sale Sept. 20. It will feature larger screens on the Pro models and new camera functions like a dedicated button for taking photos, though its most high-profile selling point is the inclusion of the new Apple Intelligence artificial intelligence (AI) tools.
\nLast month, Apple released quarterly earnings showing quarterly hardware sales crept up to $61.6 billion, with management pointing out the potential for AI to help the company\u2019s efforts to expand its ecosystem.
\n\u201cIt will transform how users interact with technology, from writing tools to help you express yourself to image playground \u2014 which gives you the ability to create fun images and communicate in new ways \u2014 to powerful tools to summarize and prioritizing notifications,\u201d Apple CEO Tim Cook said.
\n\u00a0
\nThe post One-Upsmanship? Huawei Will Debut \u2018Epoch-Making\u2019 Smartphones Hours After Apple’s appeared first on PYMNTS.com.
\n", "content_text": "Will Apple\u2019s big product rollout be overshadowed by one of its biggest competitors?\nThe iPhone maker is scheduled to announce its new slate of devices on Sept. 9, with China\u2019s Huawei planning a similar event hours later, Bloomberg News reported Monday (Sept. 2).\nAccording to the report, Huawei\u2019s consumer group chief Richard Yu announced the event on social media platform Weibo, describing the company spending five years to create \u201can epoch-making product.\u201d A source told Bloomberg Huawei plans to introduce the world\u2019s first commercial-ready smartphone that folds twice, along with an Aito electric vehicle launch.\nBloomberg said that Yu has been spotted using the new device, known as a \u201ctrifold,\u201d which offers the ability to fit an even larger, tablet-style screen within the dimensions of a standard smartphone. Other Chinese device makers like Honor Device and Xiaomi are also working on new iterations of the foldable phone.\nThe report noted that Huawei had dethroned Apple from the top five device makers during the June quarter, and argued that scheduling its event on the heels of Apple\u2019s is a sign the company is ready to face off against the tech giant once more.\nApple\u2019s event, meanwhile, will showcase devices like the iPhone 16. The rollout, happening at the Steve Jobs Theater at Apple Park in Cupertino, California, is dubbed\u00a0\u201cIt\u2019s Glowtime,\u201d an apparent reference to the interface used by the digital assistant Siri on the Apple\u2019s newest devices.\nThe iPhone 16 is due to go on sale Sept. 20. It will feature larger screens on the Pro models and new camera functions like a dedicated button for taking photos, though its most high-profile selling point is the inclusion of the new Apple Intelligence artificial intelligence (AI) tools.\nLast month, Apple released quarterly earnings showing quarterly hardware sales crept up to $61.6 billion, with management pointing out the potential for AI to help the company\u2019s efforts to expand its ecosystem.\n\u201cIt will transform how users interact with technology, from writing tools to help you express yourself to image playground \u2014 which gives you the ability to create fun images and communicate in new ways \u2014 to powerful tools to summarize and prioritizing notifications,\u201d Apple CEO Tim Cook said.\n\u00a0\nThe post One-Upsmanship? Huawei Will Debut \u2018Epoch-Making\u2019 Smartphones Hours After Apple’s appeared first on PYMNTS.com.", "date_published": "2024-09-02T16:52:25-04:00", "date_modified": "2024-09-02T16:53:42-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/Apple-event-iphone-16.jpg", "tags": [ "Apple", "Apple in China", "Apple Intelligence", "foldable phones", "huawei", "iPhone 16", "iPhones", "It\u2019s Glowtime", "News", "PYMNTS News", "Richard Yu", "Smartphones", "trifold", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2078261", "url": "https://www.pymnts.com/apple/2024/apple-investment-in-openai-could-threaten-google-search-dominance/", "title": "Apple Investment in OpenAI Could Threaten Google Search\u2019s Reach", "content_html": "Apple\u2019s search deal with\u00a0Google reportedly could be impacted by a potential Apple investment in\u00a0OpenAI.
\nUnder a current deal between the two companies, Google pays Apple to be the default search engine on iOS devices, according to a Friday (Aug. 30)\u00a0report by Seeking Alpha.
\nThis longstanding agreement adds billions of dollars and several percentage points of Apple\u2019s operating margin and profits, PYMNTS reported Aug. 6. Apple and Google entered into this Internet Services Agreement in 2016\u00a0and, per the deal, Google pays Apple a share of its search ads revenue in exchange for Apple preloading Google as the \u201cexclusive, out-of-box default\u201d\u00a0search engine. The agreement is in place through 2026, and there\u2019s\u00a0an option to extend the joint efforts until 2031, via mutual agreement.
\n\u201cA large direct investment by Apple into OpenAI could raise concerns on potential AI\u00a0partnership as a long-term alternative to Google search,\u201d\u00a0Bank of America analysts wrote, according to the Seeking Alpha report. \u201cAt the very least, a capital infusion should help OpenAI compete vs. Google and Amazon.\u201d
\nApple\u2019s potential investment in OpenAI was reported Thursday (Aug. 29). Apple is among the companies that are in talks to invest in a new\u00a0funding round by OpenAI, in which the artificial intelligence (AI) company aims to raise several billion dollars, reports said, citing unnamed sources.
\nOpenAI became the first official partner of\u00a0Apple Intelligence \u2014 a new suite of\u00a0AI features that will be added to the iPhone, Mac\u00a0and iPad experience \u2014 in June. Later this year, OpenAI\u2019s\u00a0GPT-4o will be integrated into Apple\u2019s iOS, macOS and iPadOS and, with the user\u2019s permission, will step in to handle tasks that Apple\u2019s Siri can\u2019t\u00a0manage.
\nOpenAI said in July that it is testing a prototype of new\u00a0AI search features that may be integrated into its chatbot,\u00a0ChatGPT. The company launched the prototype, dubbed SearchGPT, to a small group of users and publishers, and plans to integrate its best features into ChatGPT after receiving their feedback.
\nWhen announcing the launch, OpenAI said the prototype is \u201cdesigned to combine the strength of our AI models with information from the web to give you fast and timely answers with clear and relevant sources.\u201d
\nThe post Apple Investment in OpenAI Could Threaten Google Search\u2019s Reach appeared first on PYMNTS.com.
\n", "content_text": "Apple\u2019s search deal with\u00a0Google reportedly could be impacted by a potential Apple investment in\u00a0OpenAI.\nUnder a current deal between the two companies, Google pays Apple to be the default search engine on iOS devices, according to a Friday (Aug. 30)\u00a0report by Seeking Alpha.\nThis longstanding agreement adds billions of dollars and several percentage points of Apple\u2019s operating margin and profits, PYMNTS reported Aug. 6. Apple and Google entered into this Internet Services Agreement in 2016\u00a0and, per the deal, Google pays Apple a share of its search ads revenue in exchange for Apple preloading Google as the \u201cexclusive, out-of-box default\u201d\u00a0search engine. The agreement is in place through 2026, and there\u2019s\u00a0an option to extend the joint efforts until 2031, via mutual agreement.\n\u201cA large direct investment by Apple into OpenAI could raise concerns on potential AI\u00a0partnership as a long-term alternative to Google search,\u201d\u00a0Bank of America analysts wrote, according to the Seeking Alpha report. \u201cAt the very least, a capital infusion should help OpenAI compete vs. Google and Amazon.\u201d\nApple\u2019s potential investment in OpenAI was reported Thursday (Aug. 29). Apple is among the companies that are in talks to invest in a new\u00a0funding round by OpenAI, in which the artificial intelligence (AI) company aims to raise several billion dollars, reports said, citing unnamed sources.\nOpenAI became the first official partner of\u00a0Apple Intelligence \u2014 a new suite of\u00a0AI features that will be added to the iPhone, Mac\u00a0and iPad experience \u2014 in June. Later this year, OpenAI\u2019s\u00a0GPT-4o will be integrated into Apple\u2019s iOS, macOS and iPadOS and, with the user\u2019s permission, will step in to handle tasks that Apple\u2019s Siri can\u2019t\u00a0manage.\nOpenAI said in July that it is testing a prototype of new\u00a0AI search features that may be integrated into its chatbot,\u00a0ChatGPT. The company launched the prototype, dubbed SearchGPT, to a small group of users and publishers, and plans to integrate its best features into ChatGPT after receiving their feedback.\nWhen announcing the launch, OpenAI said the prototype is \u201cdesigned to combine the strength of our AI models with information from the web to give you fast and timely answers with clear and relevant sources.\u201d\nThe post Apple Investment in OpenAI Could Threaten Google Search\u2019s Reach appeared first on PYMNTS.com.", "date_published": "2024-08-30T11:41:24-04:00", "date_modified": "2024-09-01T21:29:43-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/OpenAI-Apple-investments.jpg", "tags": [ "Apple", "Big Tech", "funding", "Google", "Investments", "News", "OpenAI", "partnerships", "PYMNTS News", "search engine", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2065497", "url": "https://www.pymnts.com/apple/2024/apple-reportedly-cutting-100-jobs-in-crucial-services-division/", "title": "Apple Reportedly Cutting 100 Jobs in Crucial Services Division", "content_html": "Apple is reportedly eliminating around 100 jobs in its crucial digital services division.
\nThe cuts are part of a shift in priorities for the unit, Bloomberg News reported late Tuesday (Aug. 27), citing sources with knowledge of the matter.
\nAmong the cuts are workers in engineering roles, with the biggest layoffs happening in the Apple Books app and Apple Bookstore, as well as the services team behind Apple News. The report says Apple Books has become a lower priority for the tech giant. However, sources told Bloomberg that the cuts to the news division isn’t a signal that it’s become less important.
\nPYMNTS has contacted Apple for comment but has not yet gotten a reply.
\nThe report notes that layoffs are pretty rare for Apple. However, the company has made a few rounds of cuts this year.\u00a0
\nApple in April cut 614 jobs, its largest round of layoffs since the pandemic. The company also laid off hundreds of employees when it wound down its connected car effort, and recently shut down a team in San Diego.
\nThe services division has been a revenue driver for Apple, with CEO Tim Cook saying on an earnings call earlier this month that revenues for the unit had climbed 14% in the latest quarter to $24.2 billion as paid subscriptions reached a record high.\u00a0
\nAs PYMNTS wrote, that growth rate matched the fiscal second quarter and marked an acceleration from the 11% pace seen earlier in the year. Cook also noted that Apple had seen record revenue \u201cin the majority\u201d of services categories, pointing to advertising, cloud and payment services.
\nIn other Apple news, PYMNTS recently examined the company\u2019s pending artificial intelligence (AI) roll-out, and what that means for its mobile wallet Apple Pay.
\n\u201cThere\u2019s a huge opportunity for Apple to change consumer spending behavior and take its mobile wallet to the next level by integrating it into its core AI strategy,\u201d Darryl Cumming, director of product management at payments solutions company NMI, told PYMNTS. \u201cOpenAI is only the beginning.\u201d
\nCombining AI with Apple Pay could usher in more intuitive, context-aware financial experiences, that report said.\u00a0 Potential features include AI-fueled budgeting advice, real-time spending analysis and even predictive purchasing based on consumer habits.
\n\u201cWe should expect consumer choices in the Apple universe to be amplified and channeled into more App Store purchases and commerce personalization,\u201d Cumming said.
\n\n
The post Apple Reportedly Cutting 100 Jobs in Crucial Services Division appeared first on PYMNTS.com.
\n", "content_text": "Apple is reportedly eliminating around 100 jobs in its crucial digital services division.\nThe cuts are part of a shift in priorities for the unit, Bloomberg News reported late Tuesday (Aug. 27), citing sources with knowledge of the matter.\nAmong the cuts are workers in engineering roles, with the biggest layoffs happening in the Apple Books app and Apple Bookstore, as well as the services team behind Apple News. The report says Apple Books has become a lower priority for the tech giant. However, sources told Bloomberg that the cuts to the news division isn’t a signal that it’s become less important.\nPYMNTS has contacted Apple for comment but has not yet gotten a reply.\nThe report notes that layoffs are pretty rare for Apple. However, the company has made a few rounds of cuts this year.\u00a0\nApple in April cut 614 jobs, its largest round of layoffs since the pandemic. The company also laid off hundreds of employees when it wound down its connected car effort, and recently shut down a team in San Diego.\nThe services division has been a revenue driver for Apple, with CEO Tim Cook saying on an earnings call earlier this month that revenues for the unit had climbed 14% in the latest quarter to $24.2 billion as paid subscriptions reached a record high.\u00a0\nAs PYMNTS wrote, that growth rate matched the fiscal second quarter and marked an acceleration from the 11% pace seen earlier in the year. Cook also noted that Apple had seen record revenue \u201cin the majority\u201d of services categories, pointing to advertising, cloud and payment services.\nIn other Apple news, PYMNTS recently examined the company\u2019s pending artificial intelligence (AI) roll-out, and what that means for its mobile wallet Apple Pay.\n\u201cThere\u2019s a huge opportunity for Apple to change consumer spending behavior and take its mobile wallet to the next level by integrating it into its core AI strategy,\u201d Darryl Cumming, director of product management at payments solutions company NMI, told PYMNTS. \u201cOpenAI is only the beginning.\u201d\nCombining AI with Apple Pay could usher in more intuitive, context-aware financial experiences, that report said.\u00a0 Potential features include AI-fueled budgeting advice, real-time spending analysis and even predictive purchasing based on consumer habits.\n\u201cWe should expect consumer choices in the Apple universe to be amplified and channeled into more App Store purchases and commerce personalization,\u201d Cumming said.\n \nThe post Apple Reportedly Cutting 100 Jobs in Crucial Services Division appeared first on PYMNTS.com.", "date_published": "2024-08-28T06:51:40-04:00", "date_modified": "2024-08-28T06:51:40-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/02/Apple-personnel.png", "tags": [ "Apple", "Apple digitial services", "Apple Intelligence", "Apple Services", "Layoffs", "News", "PYMNTS News", "tech layoffs", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2064827", "url": "https://www.pymnts.com/apple/2024/apple-cfo-shakeup-spotlights-c-suite-collaboration-finance-growth-engine/", "title": "Trending: Apple\u2019s CFO Shake-Up Spotlights Finance as Corporate Growth Engine", "content_html": "The global economic landscape is increasingly complex and unpredictable. One thing remains certain, however: Having a savvy, steady chief financial officer helming the finance function can do wonders for business success.
\nUnderstanding how a CFO\u2019s responsibilities have expanded and what qualities are now essential in a CFO is crucial for enterprises looking to grow and win in the 21st century.
\nTake, for instance, Apple CFO Luca Maestri. Since he was appointed in 2014, the tech giant\u2019s stock value has grown more than 800%.
\nNews broke Monday (Aug. 26) that Apple is undergoing a CFO transition. Kevan Parekh, Apple\u2019s vice president of financial planning and analysis, will replace Maestri Jan. 1, 2025.
\nAfter serving as the CFO of Xerox, Maestri joined Apple in 2013 and was elected to the chief finance role within a year of his hiring. He will continue to lead the company\u2019s corporate services teams, including information systems and technology, information security, and real estate and development. He will continue reporting to Apple CEO Tim Cook.
\n\u201cLuca has been an extraordinary partner in managing Apple for the long term,\u201d Cook said in a statement Monday. \u201cHe has been instrumental in improving and driving the company\u2019s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple.\u201d
\nCook added in the statement that Parekh \u201chas been an indispensable member of Apple\u2019s finance leadership team, and he understands the company inside and out.\u201d
\nParekh began his tenure at the Cupertino giant leading the financial support of Apple\u2019s Product Marketing, Internet Sales and Services, and Engineering teams.
\nRead also: Why There Are No Sacred Cows for Today\u2019s CFOs
\nWith a new financial leader at the helm, Apple is working to position itself to continue its trajectory of innovation and growth, facing the future with renewed vigor and strategic focus.
\n\u201cDifferent industries have seen transition happen at different paces, but 20 years ago, the CFO was the senior accountant at the company \u2026 but now, the majority of companies need their CFO to be a strategic leader and trusted adviser, a crucial player in shaping the direction of the organization,\u201d XiFin CFO Erik Sallee told PYMNTS in June for the series \u201cA Day In The Life of a CFO.\u201d
\n\u201cThe hardest part is not coming up with exciting ideas but financing and executing them effectively,\u201d he added.
\nWhile serving as CFO, \u201cMaestri enabled essential investments and practiced robust financial discipline, which together helped the company more than double its revenue, with services revenue growing more than five times,\u201d per the statement.
\nTechnology has also reshaped CFOs\u2019 responsibilities, necessitating a broader skill set and a more strategic approach to financial management. Advanced analytics and big data have become integral to financial planning and analysis. CFOs are expected to use data to provide actionable insights, forecast trends and support strategic decisions. This requires a strong understanding of data analytics, machine learning and artificial intelligence, according to the PYMNTS Intelligence report \u201c60 CFOs Can\u2019t Be Wrong \u2026 AI Can Help Accounts Payable.\u201d
\nCreating data visualizations or reports is the most common use of generative AI, according to findings detailed in a separate PYMNTS Intelligence report, \u201cMost CFOs See Limited ROI From GenAI, but Boost Its Investment.\u201d
\nAs CSI CFO Ken Gayron told PYMNTS in June, \u201cbeing a modern CFO is about using your analytical and financial skills to partner with the business, ensuring it makes the best decisions with the right financial lens. At the same time, you have to drive efficiency through automation and process improvement so that you can scale profitably and maintain a competitive advantage.\u201d
\n\u201cThe CFO and the CEO are really the two positions that see the entire business,\u201d he added.
\nSee also: CFOs\u2019 Top 4 Concerns Reveal Importance of Controlling What\u2019s Controllable
\nApple\u2019s statement noted the close collaboration between its CFO function and CEO as key to the company\u2019s sustainable success, emphasizing the way Maestri instilled \u201cfinancial discipline across every part of Apple.\u201d
\nAccording to PYMNTS\u2019 series \u201cA Day In The Life of a CFO,\u201d finance leaders say that by connecting granular details to overarching goals, CFOs can help ensure that financial strategies support the company\u2019s long-term vision.
\nUnderpinning this approach is the need to establish a culture of financial discipline.
\n\u201cThe finance department exists to fuel decision frameworks,\u201d ABBYY CFO Brian Unruh told PYMNTS in June, noting that the \u201ctimely, accurate and multidimensional data\u201d finance teams provide daily to the rest of the business is ultimately what helps define and accelerate internal growth drivers.
\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
\nThe post Trending: Apple\u2019s CFO Shake-Up Spotlights Finance as Corporate Growth Engine appeared first on PYMNTS.com.
\n", "content_text": "The global economic landscape is increasingly complex and unpredictable. One thing remains certain, however: Having a savvy, steady chief financial officer helming the finance function can do wonders for business success.\nUnderstanding how a CFO\u2019s responsibilities have expanded and what qualities are now essential in a CFO is crucial for enterprises looking to grow and win in the 21st century.\nTake, for instance, Apple CFO Luca Maestri. Since he was appointed in 2014, the tech giant\u2019s stock value has grown more than 800%.\nNews broke Monday (Aug. 26) that Apple is undergoing a CFO transition. Kevan Parekh, Apple\u2019s vice president of financial planning and analysis, will replace Maestri Jan. 1, 2025.\nAfter serving as the CFO of Xerox, Maestri joined Apple in 2013 and was elected to the chief finance role within a year of his hiring. He will continue to lead the company\u2019s corporate services teams, including information systems and technology, information security, and real estate and development. He will continue reporting to Apple CEO Tim Cook.\n\u201cLuca has been an extraordinary partner in managing Apple for the long term,\u201d Cook said in a statement Monday. \u201cHe has been instrumental in improving and driving the company\u2019s financial performance, engaging with shareholders, and instilling financial discipline across every part of Apple.\u201d\nCook added in the statement that Parekh \u201chas been an indispensable member of Apple\u2019s finance leadership team, and he understands the company inside and out.\u201d\nParekh began his tenure at the Cupertino giant leading the financial support of Apple\u2019s Product Marketing, Internet Sales and Services, and Engineering teams.\nRead also: Why There Are No Sacred Cows for Today\u2019s CFOs\nCFOs Remain Source of Truth Amid Financial Uncertainty\nWith a new financial leader at the helm, Apple is working to position itself to continue its trajectory of innovation and growth, facing the future with renewed vigor and strategic focus.\n\u201cDifferent industries have seen transition happen at different paces, but 20 years ago, the CFO was the senior accountant at the company \u2026 but now, the majority of companies need their CFO to be a strategic leader and trusted adviser, a crucial player in shaping the direction of the organization,\u201d XiFin CFO Erik Sallee told PYMNTS in June for the series \u201cA Day In The Life of a CFO.\u201d\n\u201cThe hardest part is not coming up with exciting ideas but financing and executing them effectively,\u201d he added.\nWhile serving as CFO, \u201cMaestri enabled essential investments and practiced robust financial discipline, which together helped the company more than double its revenue, with services revenue growing more than five times,\u201d per the statement.\nTechnology has also reshaped CFOs\u2019 responsibilities, necessitating a broader skill set and a more strategic approach to financial management. Advanced analytics and big data have become integral to financial planning and analysis. CFOs are expected to use data to provide actionable insights, forecast trends and support strategic decisions. This requires a strong understanding of data analytics, machine learning and artificial intelligence, according to the PYMNTS Intelligence report \u201c60 CFOs Can\u2019t Be Wrong \u2026 AI Can Help Accounts Payable.\u201d\nCreating data visualizations or reports is the most common use of generative AI, according to findings detailed in a separate PYMNTS Intelligence report, \u201cMost CFOs See Limited ROI From GenAI, but Boost Its Investment.\u201d\nAs CSI CFO Ken Gayron told PYMNTS in June, \u201cbeing a modern CFO is about using your analytical and financial skills to partner with the business, ensuring it makes the best decisions with the right financial lens. At the same time, you have to drive efficiency through automation and process improvement so that you can scale profitably and maintain a competitive advantage.\u201d\n\u201cThe CFO and the CEO are really the two positions that see the entire business,\u201d he added.\nSee also: CFOs\u2019 Top 4 Concerns Reveal Importance of Controlling What\u2019s Controllable\nCross-Departmental Discussions Drive Better Results\nApple\u2019s statement noted the close collaboration between its CFO function and CEO as key to the company\u2019s sustainable success, emphasizing the way Maestri instilled \u201cfinancial discipline across every part of Apple.\u201d\nAccording to PYMNTS\u2019 series \u201cA Day In The Life of a CFO,\u201d finance leaders say that by connecting granular details to overarching goals, CFOs can help ensure that financial strategies support the company\u2019s long-term vision.\nUnderpinning this approach is the need to establish a culture of financial discipline.\n\u201cThe finance department exists to fuel decision frameworks,\u201d ABBYY CFO Brian Unruh told PYMNTS in June, noting that the \u201ctimely, accurate and multidimensional data\u201d finance teams provide daily to the rest of the business is ultimately what helps define and accelerate internal growth drivers.\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.\nThe post Trending: Apple\u2019s CFO Shake-Up Spotlights Finance as Corporate Growth Engine appeared first on PYMNTS.com.", "date_published": "2024-08-27T11:36:28-04:00", "date_modified": "2024-08-27T22:08:43-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Apple.jpg", "tags": [ "ABBYY", "Apple", "artificial intelligence", "B2B", "B2B Payments", "Brian Unruh", "CFO", "commercial payments", "CSI", "data analytics", "Erik Sallee", "Featured News", "Ken Gayron", "Kevan Parekh", "Luca Maestri", "News", "personnel", "PYMNTS News", "Technology", "XiFin" ] }, { "id": "https://www.pymnts.com/?p=2064647", "url": "https://www.pymnts.com/apple/2024/apple-finance-chief-depart-year-end/", "title": "Apple Finance Chief to Depart at Year\u2019s End", "content_html": "Apple Chief Financial Officer Luca Maestri is set to step down at the start of next year.
\nMaestri will exit the CFO office starting Jan. 1 but continue to lead Apple\u2019s corporate services teams, according to a Monday (Aug. 26) press release. Kevan Parekh, Apple\u2019s vice president of financial planning and analysis, will take his place.
\nApple CEO Tim Cook said in the release that Maestri \u201chas been instrumental in improving and driving the company\u2019s financial performance, engaging with shareholders and instilling financial discipline across every part of Apple. We\u2019re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company.\u201d
\nCook added that Parekh\u2019s \u201csharp intellect, wise judgment and financial brilliance make him the perfect choice to be Apple\u2019s next CFO.\u201d
\nDuring his tenure as CFO of Apple, Maestri \u201cenabled essential investments and practiced robust financial discipline,\u201d helping Apple more than double its revenue, the release said. Services revenue increased more than five times.
\n\u201cIt is the greatest privilege of my professional life to serve the world\u2019s most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook,\u201d Maestri said in the release. \u201cI\u2019m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO.\u201d
\nParekh has been with Apple for 11 years and led the company\u2019s worldwide sales, retail and market finance efforts before moving into his current role. Before Apple, he held various senior leadership positions at Thomson Reuters and General Motors.
\nIn other Apple news, the company plans to introduce Apple Intelligence, a sweeping artificial intelligence initiative that experts say could reshape the rules of digital commerce.
\nApple is wading into a Silicon Valley AI arms race. Google is integrating the technology into its search engine, Microsoft is making it a part of Office and Meta is weaving it into its social media platforms.
\nThe post Apple Finance Chief to Depart at Year\u2019s End appeared first on PYMNTS.com.
\n", "content_text": "Apple Chief Financial Officer Luca Maestri is set to step down at the start of next year.\nMaestri will exit the CFO office starting Jan. 1 but continue to lead Apple\u2019s corporate services teams, according to a Monday (Aug. 26) press release. Kevan Parekh, Apple\u2019s vice president of financial planning and analysis, will take his place.\nApple CEO Tim Cook said in the release that Maestri \u201chas been instrumental in improving and driving the company\u2019s financial performance, engaging with shareholders and instilling financial discipline across every part of Apple. We\u2019re fortunate that we will continue to benefit from the leadership and insight that have been the hallmark of his tenure at the company.\u201d\nCook added that Parekh\u2019s \u201csharp intellect, wise judgment and financial brilliance make him the perfect choice to be Apple\u2019s next CFO.\u201d\nDuring his tenure as CFO of Apple, Maestri \u201cenabled essential investments and practiced robust financial discipline,\u201d helping Apple more than double its revenue, the release said. Services revenue increased more than five times.\n\u201cIt is the greatest privilege of my professional life to serve the world\u2019s most innovative and admired company, and to work side by side with a leader as inspirational as Tim Cook,\u201d Maestri said in the release. \u201cI\u2019m looking forward to the next stage of my time at Apple, and I have enormous confidence in Kevan as he prepares to take the reins as CFO.\u201d\nParekh has been with Apple for 11 years and led the company\u2019s worldwide sales, retail and market finance efforts before moving into his current role. Before Apple, he held various senior leadership positions at Thomson Reuters and General Motors.\nIn other Apple news, the company plans to introduce Apple Intelligence, a sweeping artificial intelligence initiative that experts say could reshape the rules of digital commerce.\nApple is wading into a Silicon Valley AI arms race. Google is integrating the technology into its search engine, Microsoft is making it a part of Office and Meta is weaving it into its social media platforms.\nThe post Apple Finance Chief to Depart at Year\u2019s End appeared first on PYMNTS.com.", "date_published": "2024-08-27T08:36:55-04:00", "date_modified": "2024-08-27T08:36:55-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/02/Apple-personnel.png", "tags": [ "Apple", "CFO", "Kevan Parekh", "Luca Maestri", "News", "personnel", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2064315", "url": "https://www.pymnts.com/apple/2024/apple-moves-iphone-16-rollout-up-one-day/", "title": "Apple Moves iPhone 16 Rollout Up One Day", "content_html": "Apple has sent out invitations for its September event showcasing devices like the iPhone 16.
\nAs Bloomberg News reported Monday (Aug. 26), the company will host this event at the Steve Jobs Theater at Apple Park in Cupertino, California, home to Apple\u2019s headquarters. The theme: \u201cIt\u2019s Glowtime,\u201d an apparent reference to the interface employed by the digital assistant Siri on the Apple\u2019s newest devices.
\nAccording to that report, sources said Apple had planned the launch for Sept. 10, but has moved it up one day. Sept. 10, that report noted, is the also the day that presidential candidates Kamala Harris and Donald Trump are due to debate.
\nThe iPhone 16 is set to go on sale Sept. 20. While it will feature larger screens on the Pro models and new camera features such as a dedicated button for taking photos, perhaps the phone\u2019s most high-profile selling point is the inclusion of the new Apple Intelligence artificial intelligence (AI) tools.
\nEarlier this month, Apple released earnings showing that its quarterly hardware sales crept up to $61.6 billion, with iPhone and wearables sales declining but Mac sales gathering 2.9% to $7 billion. iPad sales jumped 24% in the quarter, to $7.2 billion, bolstered by new launches including the iPad Pro.
\nDuring the earnings call, management pointed out the potential for AI to help the company\u2019s efforts to build out its ecosystem.
\n\u201cIt will transform how users interact with technology, from writing tools to help you express yourself to image playground \u2014 which gives you the ability to create fun images and communicate in new ways \u2014 to powerful tools to summarize and prioritizing notifications,\u201d Apple CEO Tim Cook said.
\nIn other recent Apple product development news, this month also brought reports that the company is working on a device that combines an iPad-like display with a robotic arm, allowing it to perform tasks like adjusting to face the user during a video call.
\n\u201cApple envisions the device as a tool for tasks related to smart home management, videoconferencing and home security,\u201d PYMNTS wrote, adding that the company \u201cexpects it to be controlled by the Siri digital assistant and Apple Intelligence AI offering; and aims to release it by 2026 or 2027 for around $1,000.\u201d
\nThe post Apple Moves iPhone 16 Rollout Up One Day appeared first on PYMNTS.com.
\n", "content_text": "Apple has sent out invitations for its September event showcasing devices like the iPhone 16.\nAs Bloomberg News reported Monday (Aug. 26), the company will host this event at the Steve Jobs Theater at Apple Park in Cupertino, California, home to Apple\u2019s headquarters. The theme: \u201cIt\u2019s Glowtime,\u201d an apparent reference to the interface employed by the digital assistant Siri on the Apple\u2019s newest devices.\nAccording to that report, sources said Apple had planned the launch for Sept. 10, but has moved it up one day. Sept. 10, that report noted, is the also the day that presidential candidates Kamala Harris and Donald Trump are due to debate.\nThe iPhone 16 is set to go on sale Sept. 20. While it will feature larger screens on the Pro models and new camera features such as a dedicated button for taking photos, perhaps the phone\u2019s most high-profile selling point is the inclusion of the new Apple Intelligence artificial intelligence (AI) tools.\nEarlier this month, Apple released earnings showing that its quarterly hardware sales crept up to $61.6 billion, with iPhone and wearables sales declining but Mac sales gathering 2.9% to $7 billion. iPad sales jumped 24% in the quarter, to $7.2 billion, bolstered by new launches including the iPad Pro.\nDuring the earnings call, management pointed out the potential for AI to help the company\u2019s efforts to build out its ecosystem.\n\u201cIt will transform how users interact with technology, from writing tools to help you express yourself to image playground \u2014 which gives you the ability to create fun images and communicate in new ways \u2014 to powerful tools to summarize and prioritizing notifications,\u201d Apple CEO Tim Cook said.\nIn other recent Apple product development news, this month also brought reports that the company is working on a device that combines an iPad-like display with a robotic arm, allowing it to perform tasks like adjusting to face the user during a video call.\n\u201cApple envisions the device as a tool for tasks related to smart home management, videoconferencing and home security,\u201d PYMNTS wrote, adding that the company \u201cexpects it to be controlled by the Siri digital assistant and Apple Intelligence AI offering; and aims to release it by 2026 or 2027 for around $1,000.\u201d\nThe post Apple Moves iPhone 16 Rollout Up One Day appeared first on PYMNTS.com.", "date_published": "2024-08-26T17:34:34-04:00", "date_modified": "2024-08-26T17:34:34-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/Apple.jpg", "tags": [ "AI", "Apple", "Apple Intelligence", "iPhone", "iPhones", "mobile devices", "News", "PYMNTS News", "siri", "smartphone", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2064278", "url": "https://www.pymnts.com/apple/2024/apples-ai-gambit-may-create-new-frontier-in-mobile-commerce/", "title": "Apple Plays AI Catchup in Hopes of Creating New Mobile Commerce Frontier", "content_html": "Apple is gearing up to launch \u201cApple Intelligence,\u201d a sweeping artificial intelligence (AI) initiative that experts say could rewrite the rules of digital commerce.
\nThe tech giant\u2019s push comes as Silicon Valley wages an AI arms race. Google is integrating AI into its search engine, Microsoft is infusing it into Office, and Meta is implementing it across social media platforms. Apple, however, has been notably quiet on the AI front \u2014 until now.
\n\u201cApple\u2019s AI integration could bring us closer to the concept of a true AI assistant \u2014 something that\u2019s portable, convenient and seamlessly integrated into our daily lives,\u201d Ryan Waite, vice president of public affairs at Think Big, told PYMNTS. \u201cWhile we\u2019ve seen attempts at this with devices like Rabbit, they haven\u2019t fully delivered on the promise.\u201d
\nAt the core of Apple Intelligence is a suite of AI-powered features designed to enhance iOS functionality. Central to this is a significantly upgraded version of Siri, bolstered by a partnership with OpenAI, the creator of ChatGPT. This collaboration is expected to improve Siri\u2019s natural language processing capabilities, enabling more complex and context-aware interactions.
\nThe first iteration of iOS 18 will debut alongside Apple\u2019s iPhone 16 models in September. However, the full range of AI features is slated for the iOS 18.1 update, expected in mid-to-late October. Initial offerings include AI-enhanced writing tools, context-aware reply suggestions in the Messages app, email summarization capabilities and real-time phone call transcription.
\nMore advanced features are on the horizon. \u201cImage Playground,\u201d an AI-powered image creation and editing tool, is expected to launch in early 2025. This will be accompanied by \u201cGenmoji,\u201d a feature allowing users to create custom emojis using AI technology.
\n\u201cWith Apple\u2019s AI in your iPhone, shopping could be revolutionized similarly to how Amazon transformed book buying,\u201d Waite said. \u201cThe key disruption would be reducing friction in the purchasing process and offering hyper-personalized experiences.\u201d
\nImagine entering a store, and your iPhone recognizes your location, pulls up your size preferences, cross-references with current inventory and suggests items you might like \u2014 all before you\u2019ve reached the first display. This level of personalization could significantly alter the retail landscape.
\nBut it\u2019s not just about shopping. Apple Pay, the company\u2019s mobile wallet, is set for an AI makeover, too. \u201cThere\u2019s a huge opportunity for Apple to change consumer spending behavior and take its mobile wallet to the next level by integrating it into its core AI strategy,\u201d Darryl Cumming, director of product management at payments solutions company NMI, told PYMNTS. \u201cOpenAI is only the beginning.\u201d
\nIntegrating AI with Apple Pay could lead to more intuitive, context-aware financial experiences. Potential features include AI-driven budgeting advice, real-time spending analysis and even predictive purchasing based on user habits.
\n\u201cWe should expect consumer choices in the Apple universe to be amplified and channeled into more App Store purchases and commerce personalization,\u201d Cumming said.
\nHowever, before this AI utopia can be realized, Apple must address a significant challenge: privacy. The company has long positioned itself as the guardian of user data. AI requires vast amounts of personal information to function effectively, creating tension between AI capabilities and privacy protection.
\n\u201cThe data collected to fuel any personalized shopping experience will be extremely valuable, not just to Apple, but to any entity interested in selling products or services,\u201d Waite warned.
\nApple\u2019s proposed solution includes on-device processing for many AI tasks and new visual cues to indicate when Siri is active. Questions still need to be answered about whether these measures will be sufficient to maintain user trust.
\nThe stakes are high. If Apple successfully navigates these challenges, it could unlock significant new revenue streams.
\n\u201cI expect to see a boost in Apple\u2019s partnerships and digital marketing as they look to swarm the tech industry with new AI innovations,\u201d Cumming said. \u201cApple is in a unique position, via its existing networks and App Store, to enable a new world of AI-driven commerce.\u201d
\nThis AI push could also upend traditional retail and marketing strategies. Personalized AI recommendations could potentially replace conventional advertising methods.
\n\u201cIt\u2019s a shift from push- to pull-based eCommerce,\u201d Waite said. \u201cInstead of brands broadcasting to consumers, consumers will be pulling exactly what they want, when they want it, through AI-powered interfaces.\u201d
\nThe implications extend beyond Apple\u2019s bottom line. The retail landscape may see a fundamental shift, with AI-driven personalization potentially rendering some traditional marketing approaches obsolete. Brands and retailers must adapt to this new paradigm or risk being left behind.\u00a0
\nAs Apple prepares to roll out these features, the mobile commerce landscape appears poised for significant change. The success of Apple Intelligence will hinge on a delicate balance of technological prowess, user trust and ethical considerations.\u00a0
\n\u201cIt\u2019s too early to say with certainty, but change is definitely coming,\u201d Cumming said. \u201cIt will be a snowball effect \u2014 as more big players like Apple commit to making generative AI a part of their core growth strategy, we\u2019re going to see a lot of excitement across the tech industry in the months ahead.\u201d
\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.
\nThe post Apple Plays AI Catchup in Hopes of Creating New Mobile Commerce Frontier appeared first on PYMNTS.com.
\n", "content_text": "Apple is gearing up to launch \u201cApple Intelligence,\u201d a sweeping artificial intelligence (AI) initiative that experts say could rewrite the rules of digital commerce.\nThe tech giant\u2019s push comes as Silicon Valley wages an AI arms race. Google is integrating AI into its search engine, Microsoft is infusing it into Office, and Meta is implementing it across social media platforms. Apple, however, has been notably quiet on the AI front \u2014 until now.\n\u201cApple\u2019s AI integration could bring us closer to the concept of a true AI assistant \u2014 something that\u2019s portable, convenient and seamlessly integrated into our daily lives,\u201d Ryan Waite, vice president of public affairs at Think Big, told PYMNTS. \u201cWhile we\u2019ve seen attempts at this with devices like Rabbit, they haven\u2019t fully delivered on the promise.\u201d\nAt the core of Apple Intelligence is a suite of AI-powered features designed to enhance iOS functionality. Central to this is a significantly upgraded version of Siri, bolstered by a partnership with OpenAI, the creator of ChatGPT. This collaboration is expected to improve Siri\u2019s natural language processing capabilities, enabling more complex and context-aware interactions.\nThe first iteration of iOS 18 will debut alongside Apple\u2019s iPhone 16 models in September. However, the full range of AI features is slated for the iOS 18.1 update, expected in mid-to-late October. Initial offerings include AI-enhanced writing tools, context-aware reply suggestions in the Messages app, email summarization capabilities and real-time phone call transcription.\nMore advanced features are on the horizon. \u201cImage Playground,\u201d an AI-powered image creation and editing tool, is expected to launch in early 2025. This will be accompanied by \u201cGenmoji,\u201d a feature allowing users to create custom emojis using AI technology.\n\u201cWith Apple\u2019s AI in your iPhone, shopping could be revolutionized similarly to how Amazon transformed book buying,\u201d Waite said. \u201cThe key disruption would be reducing friction in the purchasing process and offering hyper-personalized experiences.\u201d\niPhone AI for Mobile Commerce\nImagine entering a store, and your iPhone recognizes your location, pulls up your size preferences, cross-references with current inventory and suggests items you might like \u2014 all before you\u2019ve reached the first display. This level of personalization could significantly alter the retail landscape.\nBut it\u2019s not just about shopping. Apple Pay, the company\u2019s mobile wallet, is set for an AI makeover, too. \u201cThere\u2019s a huge opportunity for Apple to change consumer spending behavior and take its mobile wallet to the next level by integrating it into its core AI strategy,\u201d Darryl Cumming, director of product management at payments solutions company NMI, told PYMNTS. \u201cOpenAI is only the beginning.\u201d\nIntegrating AI with Apple Pay could lead to more intuitive, context-aware financial experiences. Potential features include AI-driven budgeting advice, real-time spending analysis and even predictive purchasing based on user habits.\n\u201cWe should expect consumer choices in the Apple universe to be amplified and channeled into more App Store purchases and commerce personalization,\u201d Cumming said.\nHowever, before this AI utopia can be realized, Apple must address a significant challenge: privacy. The company has long positioned itself as the guardian of user data. AI requires vast amounts of personal information to function effectively, creating tension between AI capabilities and privacy protection.\n\u201cThe data collected to fuel any personalized shopping experience will be extremely valuable, not just to Apple, but to any entity interested in selling products or services,\u201d Waite warned.\nApple\u2019s proposed solution includes on-device processing for many AI tasks and new visual cues to indicate when Siri is active. Questions still need to be answered about whether these measures will be sufficient to maintain user trust.\nNew Revenue Possibilities\nThe stakes are high. If Apple successfully navigates these challenges, it could unlock significant new revenue streams. \n\u201cI expect to see a boost in Apple\u2019s partnerships and digital marketing as they look to swarm the tech industry with new AI innovations,\u201d Cumming said. \u201cApple is in a unique position, via its existing networks and App Store, to enable a new world of AI-driven commerce.\u201d\nThis AI push could also upend traditional retail and marketing strategies. Personalized AI recommendations could potentially replace conventional advertising methods. \n\u201cIt\u2019s a shift from push- to pull-based eCommerce,\u201d Waite said. \u201cInstead of brands broadcasting to consumers, consumers will be pulling exactly what they want, when they want it, through AI-powered interfaces.\u201d\nThe implications extend beyond Apple\u2019s bottom line. The retail landscape may see a fundamental shift, with AI-driven personalization potentially rendering some traditional marketing approaches obsolete. Brands and retailers must adapt to this new paradigm or risk being left behind.\u00a0\nAs Apple prepares to roll out these features, the mobile commerce landscape appears poised for significant change. The success of Apple Intelligence will hinge on a delicate balance of technological prowess, user trust and ethical considerations.\u00a0\n\u201cIt\u2019s too early to say with certainty, but change is definitely coming,\u201d Cumming said. \u201cIt will be a snowball effect \u2014 as more big players like Apple commit to making generative AI a part of their core growth strategy, we\u2019re going to see a lot of excitement across the tech industry in the months ahead.\u201d\nFor all PYMNTS digital transformation coverage, subscribe to the daily\u00a0Digital Transformation Newsletter.\nThe post Apple Plays AI Catchup in Hopes of Creating New Mobile Commerce Frontier appeared first on PYMNTS.com.", "date_published": "2024-08-26T15:58:52-04:00", "date_modified": "2024-08-26T22:20:42-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/08/Apple-AI-2.jpg", "tags": [ "advertising", "AI", "Apple", "Apple Intelligence", "artificial intelligence", "Connected Economy", "Darryl Cumming", "digital transformation", "ecommerce", "Featured News", "iPhone", "marketing", "mobile commerce", "Mobile Wallets", "News", "Product Discovery", "PYMNTS News", "Retail", "Ryan Waite" ] }, { "id": "https://www.pymnts.com/?p=2063231", "url": "https://www.pymnts.com/apple/2024/apple-unveil-new-iphones-watches-airpods-september-10/", "title": "Report: Apple to Unveil New iPhones, Watches, AirPods Sept. 10", "content_html": "Apple reportedly plans to unveil its latest iPhones, watches and AirPods at a product launch Sept. 10.
\nThe company hasn\u2019t announced the timing of the event, but it is planning to hold it on that date, Bloomberg reported Friday (Aug. 23), citing unnamed sources.
\nApple did not immediately reply to PYMNTS\u2019 request for comment.
\nThe iPhone 16 will go on sale Sept. 20 and feature larger screens on the Pro models, new camera features like a dedicated button for taking photos, and Apple Intelligence artificial intelligence tools, according to the report.
\nThe Apple Watch Series 10 models will be thinner but have larger screens, the AirPods lineup will get new low-end and mid-tier versions, and the Macs will transition to M4 processors, the report said.
\nLater in the year, Apple will add a smaller Mac Mini, new MacBook Pros and iMacs with M4 chips, per the report.
\nApple said in an Aug. 1 earnings report that its hardware sales in the third quarter inched up to $61.6 billion, with iPhone and wearables sales slipping but Mac sales gathering 2.9% to $7 billion. IPad sales surged 24% in the quarter, to $7.2 billion, boosted by new launches including the iPad Pro.
\nManagement noted the potential for AI to help transform the company\u2019s efforts to build out its ecosystem. Speaking about AI during the earnings call, Apple CEO Tim Cook said: \u201cIt will transform how users interact with technology, from writing tools to help you express yourself to image playground \u2014 which gives you the ability to create fun images and communicate in new ways \u2014 to powerful tools to summarize and prioritizing notifications.\u201d
\nLooking further into the future of product development, it was reported Aug. 14 that Apple is developing a device that combines an iPad-like display with a robotic arm, enabling it to perform tasks like adjusting to face the user during a video call.
\nApple envisions the device as a tool for tasks related to smart home management, videoconferencing and home security; expects it to be controlled by the Siri digital assistant and Apple Intelligence AI offering; and aims to release it by 2026 or 2027 for around $1,000.
\nThe post Report: Apple to Unveil New iPhones, Watches, AirPods Sept. 10 appeared first on PYMNTS.com.
\n", "content_text": "Apple reportedly plans to unveil its latest iPhones, watches and AirPods at a product launch Sept. 10.\nThe company hasn\u2019t announced the timing of the event, but it is planning to hold it on that date, Bloomberg reported Friday (Aug. 23), citing unnamed sources.\nApple did not immediately reply to PYMNTS\u2019 request for comment.\nThe iPhone 16 will go on sale Sept. 20 and feature larger screens on the Pro models, new camera features like a dedicated button for taking photos, and Apple Intelligence artificial intelligence tools, according to the report.\nThe Apple Watch Series 10 models will be thinner but have larger screens, the AirPods lineup will get new low-end and mid-tier versions, and the Macs will transition to M4 processors, the report said.\nLater in the year, Apple will add a smaller Mac Mini, new MacBook Pros and iMacs with M4 chips, per the report.\nApple said in an Aug. 1 earnings report that its hardware sales in the third quarter inched up to $61.6 billion, with iPhone and wearables sales slipping but Mac sales gathering 2.9% to $7 billion. IPad sales surged 24% in the quarter, to $7.2 billion, boosted by new launches including the iPad Pro.\nManagement noted the potential for AI to help transform the company\u2019s efforts to build out its ecosystem. Speaking about AI during the earnings call, Apple CEO Tim Cook said: \u201cIt will transform how users interact with technology, from writing tools to help you express yourself to image playground \u2014 which gives you the ability to create fun images and communicate in new ways \u2014 to powerful tools to summarize and prioritizing notifications.\u201d\nLooking further into the future of product development, it was reported Aug. 14 that Apple is developing a device that combines an iPad-like display with a robotic arm, enabling it to perform tasks like adjusting to face the user during a video call.\nApple envisions the device as a tool for tasks related to smart home management, videoconferencing and home security; expects it to be controlled by the Siri digital assistant and Apple Intelligence AI offering; and aims to release it by 2026 or 2027 for around $1,000.\nThe post Report: Apple to Unveil New iPhones, Watches, AirPods Sept. 10 appeared first on PYMNTS.com.", "date_published": "2024-08-23T17:57:20-04:00", "date_modified": "2024-08-23T17:57:20-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/09/Apple-1.jpg", "tags": [ "Apple", "artificial intelligence", "GenAI", "Innovation", "News", "PYMNTS News", "Smartphones", "Technology", "Wearables", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2062600", "url": "https://www.pymnts.com/apple/2024/apple-to-update-browser-choice-and-app-deletion-in-eu/", "title": "Apple to Update Browser Choice and App Deletion in EU", "content_html": "Apple will give users in the European Union (EU) more choice when it comes to browsers and apps as it works to comply with the Digital Markets Act.
\nThese changes apply to iOS and iPadOS users in the EU and will take effect by the end of the year, the company said in a Thursday (Aug. 22) update.
\nOne of the changes involves the browser choice screen, as Apple will show more information about browsers to users who view the choice screen, according to the update. The updated screen will be shown to all EU users who have Apple\u2019s Safari browser set as their default browser. In addition, developers of browsers will get access to more data about the performance of the choice screen.
\nAnother change centers on the introduction of a new Default Apps section in Settings that lists the defaults available to each user, the update said. This section will be included in iOS 18 and iPadOS 18. In future software updates, there will be new default settings for dialing phone numbers, sending messages, translating text, navigation, managing passwords, keyboards and call spam filters.
\nIn a third change announced Thursday, users in the EU will be able to delete five Apple apps: the App Store, Messages, Photos, Camera and Safari, per the update.
\n\u201cThese updates come from our ongoing and continuing dialogue with the European Commission about compliance with the Digital Market Act\u2019s requirements in these areas,\u201d Apple said in the update.
\nThe Digital Markets Act, which is intended to increase competition in the digital economy, set Big Tech companies scrambling to comply with the new set of regulations that went live in March, PYMNTS reported at the time.
\nThe latest changes announced by Apple come a day after it was reported that the company is reorganizing its App Store in response to global regulations. In that reorganization, the App Store is reportedly being divided into two teams, with one overseeing Apple\u2019s own App Store and the other focusing on alternative app distribution.
\nThe Digital Markets Act has also driven other changes in mobile commerce, gaming, app developer and commission structures.
\nThe post Apple to Update Browser Choice and App Deletion in EU appeared first on PYMNTS.com.
\n", "content_text": "Apple will give users in the European Union (EU) more choice when it comes to browsers and apps as it works to comply with the Digital Markets Act.\nThese changes apply to iOS and iPadOS users in the EU and will take effect by the end of the year, the company said in a Thursday (Aug. 22) update.\nOne of the changes involves the browser choice screen, as Apple will show more information about browsers to users who view the choice screen, according to the update. The updated screen will be shown to all EU users who have Apple\u2019s Safari browser set as their default browser. In addition, developers of browsers will get access to more data about the performance of the choice screen.\nAnother change centers on the introduction of a new Default Apps section in Settings that lists the defaults available to each user, the update said. This section will be included in iOS 18 and iPadOS 18. In future software updates, there will be new default settings for dialing phone numbers, sending messages, translating text, navigation, managing passwords, keyboards and call spam filters.\nIn a third change announced Thursday, users in the EU will be able to delete five Apple apps: the App Store, Messages, Photos, Camera and Safari, per the update.\n\u201cThese updates come from our ongoing and continuing dialogue with the European Commission about compliance with the Digital Market Act\u2019s requirements in these areas,\u201d Apple said in the update.\nThe Digital Markets Act, which is intended to increase competition in the digital economy, set Big Tech companies scrambling to comply with the new set of regulations that went live in March, PYMNTS reported at the time.\nThe latest changes announced by Apple come a day after it was reported that the company is reorganizing its App Store in response to global regulations. In that reorganization, the App Store is reportedly being divided into two teams, with one overseeing Apple\u2019s own App Store and the other focusing on alternative app distribution.\nThe Digital Markets Act has also driven other changes in mobile commerce, gaming, app developer and commission structures.\nThe post Apple to Update Browser Choice and App Deletion in EU appeared first on PYMNTS.com.", "date_published": "2024-08-22T16:21:13-04:00", "date_modified": "2024-08-22T16:21:13-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2023/11/Apple.jpg", "tags": [ "Apple", "Digital Markets Act", "EMEA", "European Union", "Mobile Applications", "News", "PYMNTS News", "regulations", "Smartphones", "What's Hot" ] } ] }