On June 10, Apple (NASDAQ: AAPL) unveiled its highly anticipated artificial intelligence strategy, integrating its "Apple Intelligence" technology into its suite of applications, including Siri, and introducing OpenAI's chatbot, ChatGPT, to its devices.

At Apple's annual developer conference, executives, including CEO Tim Cook, praised Siri's interactive capabilities with messages, emails, calendars, and third-party applications during a nearly two-hour presentation. It's reported that Siri will now be able to compose emails and adjust her tone to fit the occasion.

The iPhone manufacturer, long known for prioritizing user privacy, also stated its intention to differentiate itself from competitors like Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOG) by placing privacy "front and center."

However, Wall Street had mixed reactions to the presentation, still expecting to see more groundbreaking AI technology and a convincing assurance that Apple will compete with market leader Microsoft in the AI field. Apple's stock closed down approximately 2%.

This year, Apple's stock has lagged behind other major tech companies, but soared 13% last month in anticipation of the event.

Forrester analyst Dipanjan Chatterjee remarked, "Apple Intelligence will certainly satisfy its users in a moderate and practical way; it puts Apple on par with its competitors but doesn't surpass them."

Apple's approach contrasts sharply with its competitors' enterprise-focused emphasis, with the company aiming to persuade its over one billion users (many of whom are not tech-savvy) of the necessity of emerging technologies through these measures.

Apple CEO Craig Federighi described Apple Intelligence as "AI designed for most of us."

Some analysts believe Apple relies too heavily on iPhone sales and doubt that any boost from new AI features will materialize in the near term.

"In this early race, it feels like Alphabet and especially Microsoft, due to their early pushes and cloud assets, are in a stronger position," said analyst and PP Foresight founder Paul Peskatore.

The AI features unveiled at Apple's Worldwide Developers Conference will be delivered alongside the latest operating systems for its devices and demonstrated during the event.