Dream Lab LA’s Jon Finger (left) and Verena Puhm
Tools & Platforms
Apple’s AI efforts ‘have struck midnight’ and the only way it can stop getting further behind is acquiring Perplexity, analyst Dan Ives says
Apple is falling behind in the AI race, and the only way it can catch up is by buying the AI startup Perplexity, according to a top analyst.
Dan Ives of Wedbush Securities said it’s clear Apple is incapable of producing its own AI in-house, despite a company culture that strives to build superior products internally. In recent days, some of Apple’s top AI talent has also been poached by increasingly aggressive AI talent recruiter Meta, Bloomberg reported.
Meanwhile, competitors are increasingly outdoing the company.
“Apple is at a highway rest stop on a bench watching this 4th Industrial Revolution race go by at 100 miles an hour,” wrote Ives in a Wednesday note.
Apple did not immediately respond to Fortune‘s request for comment.
Ives was more hopeful about Apple’s AI prospects in January, despite writing that the company was facing a “fork in the road” year on the technology. At the time, he highlighted Apple’s clearest advantage in the AI arms race: its existing base of 1.5 billion iPhones and 2.3 billion iOS devices used by people around the world.
In his Wednesday note, Ives struck a more apprehensive tone, adding Apple still retained the advantage of its widespread devices and could eventually win the AI race, but that its “window is narrowing.” Apple’s most recent WWDC, its annual event for showcasing new tech, also “was a snoozer,” Ives wrote, and barely mentioned AI.
“Apple is way too behind and does not have the AI technology to compete. The clock has struck 12, they need to acquire Perplexity or risk getting further behind,” Ives told Fortune in an email.
Even if Apple has to pay around double what it is currently worth, it should acquire Perplexity, he wrote. The San Francisco-based startup, reportedly worth $14 billion, has made strides among AI enthusiasts for citing links to articles and other information when its AI responds to queries. Perplexity on Tuesday also launched Comet, an AI-based web browser, for select subscribers, in its latest effort to compete with tech giants Google and Microsoft.
Yet, Tomasz Tunguz, the founder of Theory Ventures, which invests in early-stage enterprise AI startups, said acquiring Perplexity would come with myriad privacy considerations for Apple. The company is used to providing end-to-end encryption for products like iMessage and FaceTime, and would need to find a solution for how Perplexity would run, either locally or on a secure cloud architecture.
“They would need to have a lot of confidence they could build an architecture from end to end that had that privacy component,” Tunguz told Fortune.
Kevin Novak, founder and managing partner of early-stage AI investment firm Rackhouse Ventures, said it’s unclear whether a large acquisition would work for Apple. The company has tried to maintain the pro-building ethos of Steve Jobs for much of its history, and has been shy to acquire. Among its largest acquisitions was its $3 billion purchase of Beats electronics in 2014.
“This would be challenging for any company, but especially given Apple’s sort-of corporate ethos around perfectionism, may be especially challenging for Apple,” Novak told Fortune.
Still, Ives, for his part, said he believes Perplexity could be a natural fit for Apple and could especially help level up Siri to make it many people’s most frequent exposure to AI.
“If Apple acquires Perplexity, the combined forces of Cupertino with Perplexity would be a game changer on the AI front and rival ChatGPT given the scale and scope of Apple’s ecosystem,” wrote Ives in the note.
Tools & Platforms
Can AI and tech help streamline prior auths? What you need to know
For many physicians, the prior authorization process is one of the most frustrating parts of practicing medicine. What was intended as a cost-control measure has become a significant administrative burden, taking time away from patient care and adding layers of complexity to routine clinical decisions. Physicians often find themselves spending hours navigating insurer requirements, tracking down documentation, and enduring delays that can negatively impact patient outcomes.
But artificial intelligence may be part of the solution.
We spoke with Brad Boyd of BDO Consulting about how new technologies are being developed to streamline and even automate parts of the prior authorization process. From reducing paperwork to identifying which procedures are likely to be approved, AI tools are showing promise in helping practices manage approvals more efficiently—and with less stress.
AI systems can now integrate with electronic health records to gather relevant clinical data, match it against payer criteria, and generate documentation in real time. Some platforms can flag missing information or alert staff to likely denials before they happen. Others can help determine when prior authorization isn’t required at all, eliminating unnecessary steps.
While not a silver bullet, AI offers the potential to reduce the time and cost associated with prior authorizations. And as regulations continue to push for greater transparency and speed in the process, many in the industry believe AI will play a critical role in helping practices adapt.
Tools & Platforms
Hybrid ‘buyer agent’ blends AI with the human touch
Newly launched brokerage WithJoy.AI aims to get buyers through most of a transaction with tech, providing a big commission rebate in return.
Key points:
- The brokerage, currently active in Washington state, envisioned a “purely AI real estate agent,” but says their approach offers “the best of both worlds.”
- Many traditional buyer agent tasks are handled by the company’s AI-powered technology, with agents on standby “to hold your hand.”
- Buyers who complete a transaction with the firm can receive a rebate of up to 70% of the buy-side commission.
Artificial intelligence has quickly become the backbone of many real estate technologies, powering CRMs, marketing tools, operational software and more. But can AI eventually help consumers buy and sell homes with no human support?
While some companies are pursuing a fully AI-powered transaction, others — like WithJoy.AI — are taking a “best of both worlds” approach. The recently launched brokerage, which is piloting its offering in Washington state, aims to offload much of a human buyer agent’s work to an AI agent — “Joy” — but also provides real people to help buyers get to the finish line.
AI for the nuts and bolts, humans for hand-holding
A 2024 report from T3 Sixty found that a staggering 80% of an agent’s tasks can be handled by AI, leaving agents to focus on the “fine tuning” — and, says WithJoy Co-founder and CEO Dave Clark, the “scary” stuff.
WithJoy currently specializes in the buy-side of the transaction, leveraging tech where possible to assist both consumers and agents after deciding a fully automated approach wasn’t viable.
“Our initial vision when we started working on this over a year ago was that we’re going to create a purely AI real estate agent,” said Clark.
“We very quickly realized that, regulatorily speaking, you actually can’t do that. So, instead, we got kind of the best of both worlds. You still have the human presence to do the part of the job that tech really won’t be able to, like being someone who’s going to hold your hand and walk you through the scary aspects that people are going to be less likely to just trust a purely digital interface.”
The company helps buyers zero in on a home using natural language search, and when a buyer is ready to move forward, WithJoy can help draft an “AI-backed offer” that is approved by an agent before it goes in front of a client.
A substitute for an agent’s local market expertise?
In WithJoy’s model, there’s a local agent available for buyers who have questions — but that may not always be the case as this type of technology expands.
“My biggest concern is actually for the clients, many of whom will be tempted to forgo contracting with a local, more expensive agent who provides a higher level of service than an AI, or a remote agent-plus-AI team,” said Sebastian Frey, broker associate at Compass Silicon Valley in Los Gatos, California.
“I always consider one of my primary jobs as a buyer’s agent to help a buyer avoid making a horrible mistake, and I can see a lot of buyers not fully understanding what they’re getting into if they rely solely on AI to help them close the deal, or relying on an AI-empowered agent hundreds of miles away who has zero experience with the intricacies of the local market they’re buying in.”
But, Frey acknowledges, experienced buyers and investors who know the ins and outs of real estate may welcome a more hands-off, AI-driven option. “In fact, many will wholeheartedly embrace it,” Frey predicts. And they might also value the cost savings — WithJoy says buyers using their system can receive a rebate of up to 70% of the buy-side commission.
What lies ahead
Many agents are already embracing AI tools in their everyday work, letting the tech handle time-consuming tasks like writing up CMAs or listing descriptions so an agent can simply review them rather than create them from scratch.
Tech-forward brokerages like Real, Compass and Keller Williams have created proprietary AI tools for their agents, as have third-party proptech companies and startups, and MLSs are jumping on the AI bandwagon as well.
It’s clear that the technology is not only here to stay, but rapidly advancing — and in an AI future, real estate professionals who don’t embrace it will likely get left behind.
Tools & Platforms
Luma AI Launches Dream Lab LA for AI Use in Filmmaking
July 10, 2025
Generative AI company Luma AI has announced the launch of its initiative “Dream Lab LA” headquartered in Los Angeles that combines AI technology with expertise in filmmaking.
“Dream Lab LA is designed as a creative engine room where Hollywood veterans, emerging storytellers, studios, and curious minds come together to shape the next era of storytelling — before it arrives,” according to a Luma AI press release.
According to the company, Dream Lab LA will allow filmmakers to collaborate, learn and tell new stories; studios get embedded support to modernize workflows and upskill teams; and “curious daredevils push boundaries and experiment freely.”
“Dream Lab LA is where we build what everyone else is still guessing at,” Amit Jain, CEO and founder of Luma AI, said in a statement. “This is not about chasing trends, this is about defining what’s next.”
Dream Lab LA exists to explore how AI can empower creativity, not replace it, according to Luma AI, offering a space for experimentation, education, and collaboration between studios and creators.
Luma AI also announced the leadership team for Dream Lab LA, naming Verena Puhm as head of the studio. With experience in both traditional and AI-driven storytelling, Puhm has shaped content for global giants such as CNN, BBC, Netflix, Red Bull Media and Leonine Studios. As one of the earliest creatives to embrace AI in filmmaking, she’s led projects recognized by Sundance, Project Odyssey, Curious Refuge and OpenAI’s Sora Selects. In her new role, Puhm will spearhead the studio’s vision for next-generation content and lead a slate of productions.
“I believe the future of storytelling should be shaped by the people who tell stories, not just the people who build the tools,” Puhm said in a statement. “We’re cultivating a community, a creative lab, and a launchpad for what’s next. This isn’t just another platform; it’s a creative studio built from the ground up to blend technological innovation with artistic intention.”
Jon Finger, creative workflow executive, brings more than 15 years of experience at the intersection of emerging technology and content creation. A pioneer in at-home motion capture, 3-D scanning, and virtual production, he has worked across various entertainment sectors with brands such as Paramount Network, The Game Awards, and Comedy Central, and has developed for Netflix. For the past three years, Finger has focused on AI integration in filmmaking, developing workflows that give creators physicalized control over AI-driven productions.
“The focus here is to find the best experiences for passionate creatives,” Finger said in a statement. “The world is changing quickly, and we want to find the best ways for fun, fulfilling human-centric creative expression to not only continue but be amplified, so more creative people can find a new prosperous way forward.”
From its Modify Video, Reframe, and Keyframes to its foundation models Ray2 and Photon, Luma creates instruments explicitly designed for narrative storytelling.
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