Apple expected to enter the artificial intelligence race with ambitions to overtake the early leaders

True to its secretive nature, Apple hasn't provided any advance details about Monday's event being held at the company's Cupertino, California, headquarters.on Monday is expected to herald the company's move into generative artificial intelligence, marking its late arrival to a technological frontier that's expected to be as revolutionary as the invention of the iPhone.

AI mania is the main reason that Nvidia, the dominant maker of the chips underlying the technology, has seen its market value rocket from about $300 billion at the end of 2022 to about $3 trillion. The meteoric ride allowed Nvidia to briefly surpass Apple last week as the second most valuable company in the U.S. Microsoft earlier this year also eclipsed the iPhone maker on the strength of its so-far successful push into AI.

Monday's conference “represents the most important event for Apple in over a decade as the pressure to bring a generative AI stack of technology for developers and consumers is front and center,” Ives wrote in a research note. Besides using AI to spruce up Siri, Apple may also team up with OpenAI to bring some elements of ChatGPT to the iPhone, according to a wide range of unconfirmed reports leading up to Monday's conference.

Part of the optimism stems from Apple's history of releasing technology later than others and then using sleek designs and services combined with slick marketing campaigns to overcome its tardy start to unleash new trends.

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