During today's earnings call covering the third fiscal quarter of 2017, Apple CEO Tim Cook was asked about ARKit and how he foresees developers using the service when it first launches. In response, Cook once again reiterated his excitement about augmented reality, and in short, said he expects to see a wide variety of applications shortly after iOS 11 becomes available this fall.

Cook pointed towards many of the demos that we're already seeing, which have ranged from games and entertainment to more practical applications like furniture placement and measurement.

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"I could not be more excited about AR and what we're seeing with ARKit," said Cook. "What categories? What's on the web in terms of what people are doing? It's all over the place, from entertainment to gaming." He went on to say that he expects to see small business solutions, consumer solutions, and enterprise solutions, though he mentioned enterprise "takes a little longer to get going sometimes."

"I think AR is big and profound," he went on to say. "This is one of those huge things that we'll look back at and marvel at the start of it. I think customers are going to see it in a variety of ways and it feels great to get [AR] going at a level that can get all of the developers behind it."

A recreation of A-ha's "Take On Me" made using ARKit

"The smart phone is becoming even more important to people because it's going across so much of your life and you can tell by some of the things we did at WWDC that that will only continue," Cook told CNBC's Josh Lipton. "And with things like AR… I think it becomes even more essential than it currently is. I know it's hard to believe, but I think that's the case."

In an interview with CNBC after the earnings call, Cook said he believes the iPhone will become even more essential than it already is once augmented reality features are widely available.

When iOS 11 launches in the fall, it's set to become the largest AR platform in the world thanks to the myriad iPhones and iPads that are in the hands of customers. Developers are already building a huge range of ARKit-based apps and games, which will also start launching this fall.