It is "recorded" by the Apple Watch's microphone, "stored" in the Watch's Secure Exclave, transferred and "stored" in the paired iPhone's Secure Exclave where it is transcribed, then trimmed of fluff words, then uploaded to Private Cloud Compute for summarization and trimming "sensitive info", then back down to the phone, and then deleted off both Secure Exclaves. The summary is synced through iCloud to the Siri app on all your devices, is "stored" for a week, and can be saved permanently.
Apple's marketing screenshots show "Always On - Listen for conversations all day" as one of the four main options when you first turn it on.
alt Hacker News
It is "recorded" by the Apple Watch's microphone, "stored" in the Watch's Secure Exclave, transferred and "stored" in the paired iPhone's Secure Exclave where it is transcribed, then trimmed of fluff words, then uploaded to Private Cloud Compute for summarization and trimming "sensitive info", then back down to the phone, and then deleted off both Secure Exclaves. The summary is synced through iCloud to the Siri app on all your devices, is "stored" for a week, and can be saved permanently.
Apple's marketing screenshots show "Always On - Listen for conversations all day" as one of the four main options when you first turn it on.