He explains that Specs are not about copying smartphone apps but about shifting to an AI-first experience that includes features like voice-based document retrieval, streaming content, and virtual interaction with physical objects.

Snap faces stiff competition from Meta, Google, Samsung, and Apple, all developing XR devices such as smart glasses and AR headsets with similar functionalities.

A new generation of Spectacles AR glasses is planned for launch in 2026, featuring a smaller size, see-through AR optics, and an integrated AI assistant.

Spiegel highlights that AR glasses combined with AI could revolutionize work, learning, and entertainment by replacing screens and enabling personalized, contextual experiences.

He states that Specs are crucial for moving beyond smartphones into a new era of human-centered computing, marking a once-in-a-generation technological shift.

In 2026, Snap intends to reorganize internally by forming small, agile teams with startup-like energy, fostering rapid iteration, demo days, and a culture of fast failure to boost innovation.

The fifth-generation Spectacles were released to developers in 2024, and upcoming models are seen as vital to Snap’s future, especially amid challenges like slowing ad revenue growth.

Spiegel envisions Spectacles as a major business opportunity that could replace multiple physical devices, operating with a personalized, memory-enabled OS that increases in value over time.

Snap's CEO Evan Spiegel describes the company's current situation as a 'crucible moment,' emphasizing the importance of Spectacles AR glasses, AI, advertising, and revenue streams for survival and growth as they approach 2026.