WEBVTT - Apple Co-Founder Steve Wozniak Talks AI

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. Questions over Apple's AI

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<v Speaker 1>strategy will hover over the earnings call and for more

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<v Speaker 1>on what exactly the company is doing and how it's

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<v Speaker 1>all shaking out. We want to bring in someone with

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<v Speaker 1>a deep, deep understanding of the company, it's culture, and

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<v Speaker 1>its innovation, and that is Steve Wozniak. He co founded

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<v Speaker 1>Apple alongside Steve Jobs decades ago. Steve, such a pleasure

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<v Speaker 1>to speak with you. Thank you so much. You are

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<v Speaker 1>a former Apple insider, you're current devoted Apple user.

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<v Speaker 2>We know that.

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<v Speaker 1>And the initial version of Apple Intelligence was made available

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<v Speaker 1>through an iOS update to iPhone sixteen and iPhone fifteen

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<v Speaker 1>pro users. I know you've praised the demos. Have you

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<v Speaker 1>got a chance to test out the new software and

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<v Speaker 1>if so, what do you think of it?

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<v Speaker 2>Yeah?

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<v Speaker 3>I just installed along with everyone else when it wasn't

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<v Speaker 3>beta the iPhone update, and I tried a few little

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<v Speaker 3>like Siri searches, Siri questions to look for data. I

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<v Speaker 3>made them a little more complicated in my wording than

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<v Speaker 3>sirring normally gets and they work fine, So maybe it

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<v Speaker 3>was better.

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<v Speaker 2>I couldn't tell you for sure.

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<v Speaker 3>I like to use things for a long time before

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<v Speaker 3>I really comment on are they good?

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<v Speaker 2>Are they worthwhile? This? And that?

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<v Speaker 3>I mean once in a while I can tell right away,

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<v Speaker 3>but not yet here, Not yet here.

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<v Speaker 1>Okay, So there's still a lot that you're going to

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<v Speaker 1>play around with. How does that compare with how you

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<v Speaker 1>use Apple or Apple tools or any AI tools right

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<v Speaker 1>now in your daily life. I'm just trying to get

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<v Speaker 1>a sense of how you anticipate using Apple AI tools

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<v Speaker 1>to enhance what you need to do right now.

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<v Speaker 3>I pretty much avoid large language models because I want

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<v Speaker 3>things to be really that I know it's accurate, like

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<v Speaker 3>something works rather than it didn't work.

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<v Speaker 2>And I don't like to be surprised.

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<v Speaker 3>I want to think about everything that I read or

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<v Speaker 3>hear and really think it out and that I understand

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<v Speaker 3>it and can express it my own words. That's AI

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<v Speaker 3>actual intelligence.

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<v Speaker 4>Well, that's just it's not everybody body is, you know,

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<v Speaker 4>jumping on board the AI bandwagon. Is Apple going to

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<v Speaker 4>cater to those people that don't care about AI, almost

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<v Speaker 4>would turn it off if it was on their phones,

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<v Speaker 4>to ensure that they will continue to upgrade each cycle.

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<v Speaker 3>Oh, I think most of us are on an AI

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<v Speaker 3>bandwagon and appreciate it very much, but of lightweight stuff.

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<v Speaker 2>I mean, like we've had.

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<v Speaker 3>AI for quite a while, the highest intelligence of how

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<v Speaker 3>computers can think out and predict what you're going to

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<v Speaker 3>want in your life, kind of like our old Knowledge

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<v Speaker 3>Navigator going back, you know, thirty forty years. It was

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<v Speaker 3>like a little demo we made up of what computers

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<v Speaker 3>could do if they could really think.

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<v Speaker 2>And we're moving closer towards that. But the inaccuracies.

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<v Speaker 3>Does it really help you? If it doesn't create, it

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<v Speaker 3>just repeats things. So it's a very good search engine

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<v Speaker 3>for me. It finds things on the web. I wish

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<v Speaker 3>it had citations that you could click on any item

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<v Speaker 3>that came back to you from AI and say or

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<v Speaker 3>just question it verbally and say where did this come from?

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<v Speaker 3>And let it tell you, just like all the citations

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<v Speaker 3>in scientific journals that are advance our knowledge.

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<v Speaker 4>So, as you know, Steve Apple has always been very first.

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<v Speaker 4>It hasn't been the very first of certain things, but

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<v Speaker 4>it usually ends up being the best at something. What

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<v Speaker 4>would you advise, you know, the current team to do

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<v Speaker 4>in order to be the best AI?

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<v Speaker 3>I don't know how the best testing you can Apple

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<v Speaker 3>already shows that it cares so much about the employees

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<v Speaker 3>and the users and you know, diversification and you know,

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<v Speaker 3>and also not tracking you being a little more private

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<v Speaker 3>than the others. So I think that's a good sign

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<v Speaker 3>that Apple is going to pay attention to you know,

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<v Speaker 3>not taking advantage of you with AI, and largely though

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<v Speaker 3>it's up to the user, I think a lot of

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<v Speaker 3>user education should come along with this.

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<v Speaker 1>Yeah, Apple has definitely made privacy one of its differentiating

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<v Speaker 1>points when it comes to its innovation, especially when it

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<v Speaker 1>comes AI. Do you think overall, just taking a step

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<v Speaker 1>back as we talk about these earnings from these big

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<v Speaker 1>tech companies, that investors and financial markets overall are impatient

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<v Speaker 1>when they punish companies for spending too much on AI

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<v Speaker 1>and not having enough to show for it in terms of,

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<v Speaker 1>you know, a monetization or some kind of tangible return.

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<v Speaker 3>Well, what comes in the form of AI and how

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<v Speaker 3>good it is is really created by the upper executives

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<v Speaker 3>in a company. But the trouble is, the upper executives

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<v Speaker 3>in a company don't exactly own it.

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<v Speaker 2>It's all the.

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<v Speaker 3>Little shareholders like you and I and others and investors

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<v Speaker 3>and so and so they're watching every little report and

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<v Speaker 3>everything and turn.

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<v Speaker 2>The stock up and down.

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<v Speaker 3>Apple is a little bit, and I do recognize the

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<v Speaker 3>problem of iPhone being kind of the major product. We

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<v Speaker 3>are sort of closer to a one product company. There

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<v Speaker 3>were times with the Apple too, we were one product company.

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<v Speaker 3>There were times with the Macintosh and even a fortune

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<v Speaker 3>you know, five hundred company way up on the list,

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<v Speaker 3>like Fortune twenty. Our stock would drop by a third

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<v Speaker 3>in one day sometimes and you didn't have a backup

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<v Speaker 3>of a lot of other products, you know, like the

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<v Speaker 3>Apple Services and Apple Pay and all that to kind

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<v Speaker 3>of balance things out a bit. So that is a concern.

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<v Speaker 2>That I do agree with. You got to keep your

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<v Speaker 2>eye on it. But Apples still doing a good job

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<v Speaker 2>for the Apple.

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<v Speaker 4>Community well exactly, and for investors, Steve, I wonder what

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<v Speaker 4>kind of a job you think Apple is doing. You've

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<v Speaker 4>been around, you know, the financial world a long time.

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<v Speaker 4>Is the price at two twenty five there are thirty

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<v Speaker 4>nine buys and you know many of those price targets

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<v Speaker 4>are higher. Is it trading at a good valuation in

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<v Speaker 4>your estimation?

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<v Speaker 2>Yikes?

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<v Speaker 3>I'm a user type person, not an investor. I have

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<v Speaker 3>never used Apples stock. App when I was eighteen to

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<v Speaker 3>twenty years old. I came up with a formula that

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<v Speaker 3>a I'd never be political and never vote, but also

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<v Speaker 3>that I would be I wanted to be happy in life,

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<v Speaker 3>and that meant smiles minus rounds. If you're constantly watching

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<v Speaker 3>something to go up and down stock or valuation of

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<v Speaker 3>this and that, you're you're not going to be that happy,

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<v Speaker 3>you know. So I just like to let my head

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<v Speaker 3>run nice and smooth.

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<v Speaker 2>That's just me.

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<v Speaker 3>And I like to observe things and be an observer

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<v Speaker 3>and obviously be affected by things. But I'm just I

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<v Speaker 3>just can't get into that.

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<v Speaker 1>That's one's enserves in a different way, right exactly, Steve,

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<v Speaker 1>you're joining us.

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<v Speaker 2>One is frowns, and I like to avoid frowns.

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<v Speaker 1>Okay, sounds good, Steve. We'll leave you to it. Steve

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<v Speaker 1>Wozniak is co founder of Apple