Several of Apple’s largest shareholders are preparing to push the company the next day to disclose its utilization of artificial intelligence tools (via the Financial Times).

hey siri banner apple
Apple’s yearly shareholder meeting occurs tomorrow, providing those with a significant stake in the company an opportunity to propose ideas. One proposal suggested by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) demands that Apple reveal its use of AI and any moral principles adopted by the company concerning the technology.

The proposal is expected to have the support of Norges Bank Investment Management and Legal & General, Apple’s eighth and 10th-largest shareholders. Norges Bank, which manages the largest sovereign wealth fund globally, stated in its voting disclosures that Apple’s board needs to consider the “social outcomes of its operations and goods.” Similarly, Legal & General remarked that Apple “discloses very little about its strategy for managing AI-related risks.”

Legal & General had a meeting with Apple to talk about AI, but it chose not to enhance transparency regarding its development and application of the technology. “Apple should be candid about their utilization of AI and their risk mitigation processes,” the company stated.

The main investor advisory company Institutional Shareholder Services is recommending Apple shareholders to endorse the AI proposal, arguing that Apple’s guidelines “do not specifically recognize the potential risks arising from the use of AI” and, subsequently, “there are concerns about shareholders’ ability to accurately assess the risks connected with utilizing AI.”

On the other hand, Apple is advising investors to oppose the proposal, asserting that “the scope of the demanded report is excessively wide and could involve the disclosure of strategic plans and initiatives detrimental to our competitive stance.” Shareholder requests in the United States are normally non-binding, but those garnering support from more than 30% of investors typically exert sufficient pressure on the company to take action. It is widely expected that Apple will introduce a variety of new AI features for its devices at WWDC later this year.

Trending Stories

Six Motives to Hold Out for Following Year’s iPhone 17

Apple’s iPhone innovation plan extends several years into the future, and the company is repeatedly collaborating with suppliers on numerous successive iPhone models at the same time, which is why we sometimes encounter touted characteristic leaks so far in advance of rollout. The iPhone 17 collection follows suit, and we already possess some insight into what to anticipate from Apple’s 2025 smartphone range. If you intend to skip…

iOS 17.4 to Incorporate This ‘Revolutionary’ New Messaging Feature

Through iOS 17.4, slated to launch in March 2024, Apple is introducing a new cryptographic security feature to iMessage called PQ3. This “revolutionary” and “cutting-edge” protocol offers “comprehensive defenses against even exceedingly sophisticated quantum assaults,” as per Apple. Let’s dissect what that signifies. Apple’s iMessage facility already supports end-to-end encryption, but security…

Apple Examined These Notch and Dynamic Island Designs for iPhones

With the iPhone 14 Pro variants in 2022, Apple unveiled the Dynamic Island, which can change form and expand to display system notifications, sports scores, and a variety of other details. The feature renders the area surrounding the front camera and Face ID sensors productive compared to the cutout on previous iPhone models. Apple explored a range of concepts for the iPhone’s cutout area over the years before…

Anticipated at Potential Apple Gathering in March: iPads, Macs, and More

Apple customarily hosts its inaugural media event of the year in March, so the company could be only weeks away from introducing new products. Below, we have delineated what to foresee from a possible Apple Event this March. Historical Apple Events in March Since 2015:Monday, March 9, 2015 Monday, March 21, 2016 Tuesday, March 27, 2018 Monday, March 25, 2019 Tuesday,…

iOS 17.4 Arriving Shortly With These New Features for Your iPhone

In an official statement last month, Apple confirmed that iOS 17.4 will be launched in March, and the update entails several novel features and adjustments for the iPhone. Key fresh features in iOS 17.4 involve significant modifications in the EU’s App Store, Apple Podcasts transcripts, and an iMessage security enhancement. The update also introduces new emoji and encompasses preparations for the launch of next-generation CarPlay…

When Will Apple Introduce iOS 17.4 for iPhones?

Apple has been beta testing iOS 17.4 for nearly a month now. Below, we elucidate when the update is likely to be released to all users. In its release regarding major App Store changes in the EU, executed in response to new regulations under the EU’s Digital Markets Act, Apple affirmed that iOS 17.4 will be launched at some point in March:Developers can acquaint themselves with these…