Rabbit has released its quarterly update featuring the new 'beta rabbit' mode for its r1 device, which enhances its conversational AI capabilities. The update includes a detailed discussion on the improvements made to the r1, particularly in refining chat functionalities and timers. However, the app's 'action model' remains absent, which has drawn attention from tech analysts. The update also includes a comparison with other devices such as Google Gemini and Ray-Ban Meta. Early reviews indicate significant enhancements from previous iterations of the r1, highlighting its evolving capabilities in the AI landscape.