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Apple is working on generative AI (GenAI) features that will be revealed later this year, the company's CEO Tim Cook has said.

During Apple's quarterly earnings call, Cook mentioned that the company is working on generative AI software features.

"As we look ahead, we will continue to invest in these and other technologies that will shape the future," he told analysts late on Thursday.

"That includes artificial intelligence, where we continue to spend a tremendous amount of time and effort, and we’re excited to share the details of our ongoing work in that space later this year," Cook added.

He said that Apple has got some things that it is incredibly excited about, that "we'll be talking about later this year."

Unlike other tech giants like Microsoft, Google and now Samsung, Apple has kept the details of its AI initiatives close to its heart.

Cook said that there's a huge opportunity for Apple with generative AI and with AI.

He noted that the company has "a lot of work going on internally," but that Apple is not announcing details yet so as to not "get out in front" of itself.

Earlier this year, Bank of America analysts upgraded their Apple price target saying that the company could gain as AI capabilities are integrated into new iPhones.

In December last year, Apple's machine learning research team released frameworks and model libraries designed to run on its silicon chips. The company released MLX, a machine learning framework designed for efficient and flexible machine learning on Apple silicon.

In November, Cook revealed that the company is investing quite a bit in AI and will do it responsibly for product enhancements over time.