JPMorgan Chase stated in a research report released on Tuesday that the newly launched AI-powered version of Siri from Apple will face usage limitations across its massive installed base of devices, citing older iPhone models as unable to support advanced AI functionalities.
The investment bank indicated that over 850 million iPhones are incapable of executing even basic Apple Intelligence commands, with an additional more than 1.3 billion iPhones unable to utilize the new Siri's high-end features.
This long-awaited comprehensive upgrade for Siri was a central highlight of Apple's Worldwide Developers Conference on Monday. The world's most valuable smartphone maker is pinning hopes on this feature to catch up with AI competitors like OpenAI's ChatGPT, Alphabet Inc's Gemini, and Anthropic's Claude.
JPMorgan cautioned that leveraging software advantages to drive hardware sales is not straightforward, even though the AI experience has become a key factor motivating users to upgrade their devices.
According to information on Apple's official website, the AI-powered Siri will only be supported on the iPhone 15 Pro, iPhone 15 Pro Max, and the iPhone 16 series and subsequent models.
The bank pointed out that the primary bottlenecks for using the new Siri and various AI tools lie in chip architecture and memory. Since Apple Intelligence functions rely heavily on on-device processing, running Siri's advanced features requires devices to be equipped with 12GB of unified memory.
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