Apple has announced that it plans to use its own server chips to power its devices with artificial intelligence (AI) features.

New 'Apple Intelligence' Technology

During its annual developer conference on Monday, Reuters reported that the tech giant revealed its new "Apple Intelligence" technology that will be integrated into its various apps, including Siri and OpenAI's ChatGPT on its devices.

In a presentation, Apple CEO Tim Cook and other executives showcased how Siri will improve interactions with messages, emails, calendars, and third-party apps. Cook said Siri would soon be able to write emails and modify its tone to suit various occasions.

READ NEXT: Apple May Release Slimmer iPhone by 2025 in 'Major Redesign'

Stock of Apple Against Other Tech Giants

Apple's stock, which has underperformed compared to other Big Tech companies this year, increased 13% last month in anticipation of the event, according to Reuters. 

However, Forrester analyst Dipanjan Chatterjee told Reuters that while the "Apple Intelligence" will excite users with its gradual enhancements, it does not give Apple a substantial edge over its competitors. 

READ MORE: Meta and Apple in Race to Develop First Non-Invasive Neurotech for Healthcare