Major Shareholders Planning to Force Apple to Reveal Use of AI

Some of Apple's biggest investors are set to pressure the company tomorrow to reveal its use of artificial intelligence tools (via the Financial Times).

hey siri banner apple
Apple's annual shareholder meeting takes place tomorrow, allowing those with a major stake in the company to put forward proposals. One resolution proposed by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) asks Apple to disclose its use of AI and any ethical guidelines that the company has adopted regarding the technology.

The resolution is set to be supported by Norges Bank Investment Management and Legal & General, Apple's eighth and 10th-largest shareholders. Norges Bank, which operates the world's biggest sovereign wealth fund, wrote in its voting disclosures that Apple's board should account for "social consequences of its operations and products." Likewise, Legal & General said that Apple "discloses very little about its approach to managing AI-related risks."

Legal & General met with Apple to discuss AI, but it declined to increase transparency around its development and use of the technology. "Apple should be transparent in their uses of AI and their risk management processes," the company said.

The major investor advisory firm Institutional Shareholder Services is encouraging Apple investors to support the AI resolution, arguing that Apple's guidelines "do not specifically identify the potential risks resulting from the use of AI" and, as a result, "there are concerns regarding shareholders' ability to properly evaluate the risks associated with the use of AI."

Meanwhile, Apple is urging investors to reject the resolution, claiming that "the scope of the requested report is overly broad and could encompass disclosure of strategic plans and initiatives harmful to our competitive position." Shareholder petitions in the United States are usually non-binding, but those that review support from more than 30% of investors usually put sufficient pressure on the company to act. Apple is widely expected to announce a range of new AI features for its devices at WWDC later this year.

Top Rated Comments

swingerofbirch Avatar
8 weeks ago
Anyone who has used Siri should have no worries of some sentient killer robot coming out of Cupertino's laboratories.
Score: 50 Votes (Like | Disagree)
DFZD Avatar
8 weeks ago
Apple has become Oppenheimer now.. it was Einstein not so long ago. Its sad to see their reputation taking such a massive hit as they shifted their focus so strongly towards the bottomline, in fact now it seems its the only thing they care about.
Score: 12 Votes (Like | Disagree)
DamonOrl Avatar
8 weeks ago
I voted against it. Why should they be forced to reveal what they are using it for when other companies aren’t also?

Most of the shareholder proposals are just plain dumb
Score: 9 Votes (Like | Disagree)
ifxf Avatar
8 weeks ago
You can trust that Apple will so neutered AI to protect against offending anyone that it will be useless except as marketing material.
Score: 9 Votes (Like | Disagree)
unregbaron Avatar
8 weeks ago
If I ran a company shareholder stuff like this would drive me insane...
Score: 7 Votes (Like | Disagree)
Karma*Police Avatar
8 weeks ago

They should have bought Google shares. Siri is not ready, Apple will have to use Google AI like Samsung.
Haha, I’m guessing that was sarcasm. For those that don’t know, Google was embarrassed beyond words and had to publicly apologize cos their Gemini AI is pure dumpster fire and their stock tanked 4%. Google might be all downhill from here because the entire company is infested with these crazy people.

Score: 6 Votes (Like | Disagree)

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