Artificial intelligence (AI) has opened up a whole new realm of possibilities for new products and services which Apple (NASDAQ: AAPL) can launch. Its newest iPhones will have the functionality necessary to take advantage of the company's new AI features, which it is broadly referring to as "Apple Intelligence." It's just the catalyst the company may need to trigger a big upgrade cycle for its phones.

But a boost in iPhone sales is just one part of the equation. There could be another catalyst for Apple thanks to AI, and that's on the service side of things.

Not all AI features are created equally, and premium options could require users to pay a recurring fee for them. Many analysts believe that the company could charge a fee, potentially as much as $20 per month, for premium AI features.

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Source Fool.com