Apple has been moving at a slower pace compared to its Big Tech peers in developing generative AI products, leading to uncertainty among investors about the company's investment in this technology. While competitors such as Google, Microsoft, and Meta have been making significant strides in the artificial intelligence space, Apple has remained relatively quiet without any major announcements.

Brian Mulberry, a portfolio manager at the Apple shareholder Zacks Investment Management, expressed that Apple had yet to make a notable impact in the AI arena. Mulberry highlighted the significance of AI in the market and how it is driving momentum across various industries. The lack of development in this sector has left investors eagerly anticipating Apple's entry.

Apple CEO Tim Cook, however, aims to reassure shareholders that the company is indeed focused on AI. During the annual shareholder meeting on Wednesday, Cook mentioned that Apple has been innovating in AI for several years and is currently making significant investments in this field. Cook sees immense breakthrough potential and transformative opportunities for users through AI, emphasizing that the Apple Mac is an ideal platform for AI applications.

While Cook did not provide specific details about Apple's AI development, he mentioned that the company plans to disclose its future plans later this year. The CEO's response comes amid growing demand for Apple to establish a distinct narrative in the AI arena. David Wagner, a portfolio manager at Apple shareholder Aptus Capital Advisors, highlighted the market's focus on storytelling and emphasized the importance of Apple having its own unique AI story.

Apple shareholders also voted down a request for an AI-transparency report during the meeting. The report, supported by Apple's labor force, sought to delve into the ethical considerations of the company's AI usage. The rejection highlights the challenges of balancing transparency and privacy concerns related to AI development.

As of now, Apple's approach to AI development continues to raise questions among investors. While competitors forge ahead with AI advancements, investors eagerly await Apple's plans to solidify its place in this rapidly evolving field.