According to a recent Stocklytics report, tech giant Apple is reported to have acquired up to 32 AI startups in 2023, the highest number among tech giants.
In the overall AI startup acquisition, Google trails behind Apple with 21, followed by Meta with 18 and Microsoft with 17.
Stocklytics Financial Analyst Edith Reads, commenting on the data said Apple’s massive acquisition of AI startups puts the company in a good position for future tech developments amongst its competitors.
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Her comment reads,
“In the ongoing Al arms race, Apple is making sizeable deals with many Al startups, putting it in a good spot for future tech developments even as its competitors Microsoft and Google, make considerable investments in already established Al companies. By acquiring promising Al startups, Apple gains access to top-tier talent and innovative technologies and consolidates its foothold in crucial Al domains, ensuring a competitive edge in the rapidly evolving tech landscape”.
Despite the acquisition of numerous AI startups, Apple has been quite subtle in integrating AI capabilities into its products compared to other companies like Google and Samsung. While Apple has updated the software and hardware in its devices with the help of AI and machine learning, Samsung and Google have moved progressively faster with their latest phones and devices, building on their own generative AI.
However, statistics reveal that the Cupertino giant is well ahead of its competitors in equity and add-on investment in AI technologies. One notable aspect of Apple’s acquisition is that the company is acquiring early-stage startups, indicating a proactive strategy to identify and invest in emerging AI trends and technologies.
Apple CEO Tim Cook has disclosed the company’s plans to invest in Artificial intelligence (AI) as well as other technologies, as he hints at a possible announcement later this year.
In his words,
“As we look ahead, we will continue to invest in these and other technologies that will shape the future. That includes Artificial Intelligence where we continue to spend a tremendous amount of time and effort, we are excited to share the details of our ongoing work in that space later this year”.
Recall that last year October, Apple disclosed that it is on track to spend $1 billion per year on developing its generative Artificial Intelligence products. The company’s CEO however remarked that Apple is directing its energy into research on AI. A push into large language models (LLM) has seen Apple touted to make 2024 the year of AI.
The company has already announced a new open-source text-powered image editing tool that could one day be built into Siri and other Apple initiatives. The tool allows people to provide an image and text commands on the changes they want including alterations to colors, sizing, and more.
It is increasingly clear that Apple is keen to ensure that it closes the Al gap between its products and those offered by its competitors, as it possibly could look to integrate AI features into its iPhone 16.
It is indeed an AI race, and you do not just fight with your brain, you open the vaults. American bigtech is playing the game, and are teaching us how to win the future: "According to a recent Stocklytics report, tech giant Apple is reported to have acquired up to 32 AI startups… pic.twitter.com/Amh4W0D61y
— Ndubuisi Ekekwe (@ndekekwe) February 9, 2024