Apple is on target to invest $1bn annually in researching and developing its generative artificial intelligence (GenAI) services, Bloomberg has reported.

While its competitors OpenAI and Google have released ChatGPT and Bard, respectively, Apple has yet to release a GenAI product.

Apple has already built a large language model LLM called Ajax and is rumoured to be working on a chatbot called Apple GPT, Bloomberg reported.

The company has plans to reportedly combine AI into Siri, Apple Music and Messages. Spotify currently generates playlists through its partnerships with OpenAI.

OpenAI’s ChatGPT mobile business enjoyed a record number of installs and total revenue in September, despite global GenAI deals struggling to recover after a major slump following a Q1 peak. 

The hit GenAI chatbot saw 15.6 million downloads last month and brought in $4.58m in gross revenue across its mobile applications globally.

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By GlobalData

With Google looking to gain more traction in the AI sphere, one of the new Bard features, Bard Extensions, allows users to import data from other Google sites, for example, Gmail or Google Drive.

The overall AI market will be worth $909bn by 2030 having grown at a compound annual rate of 35% between 2022 and 2030, according to GlobalData Research.