Ahead of the highly-anticipated launch of Apple Inc.'s (NASDAQ:AAPL) iPhone 16 with AI integration, market analytics firm Canalys has predicted a boom in AI-capable smartphones over the next few years.
What Happened: The report forecasts that by the end of 2024, 16% of new smartphones will be generative AI-capable, driven by rapid advancements in chipset technology and increasing consumer demand.
By 2028, the firm expects more than half of the world's smartphones to be AI-capable.
Major global players such as Apple, Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, and Samsung Electronics Co Ltd. (OTC:SSNLF) along with leading Chinese smartphone companies are expected to lead the charge in integrating AI capabilities into their devices.
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