Apple may need to disclose its artificial intelligence plans during its upcoming annual shareholders meeting, scheduled for tomorrow.
While Apple entered the artificial intelligence arena later than major players like Samsung, Google, and OpenAI, it’s reportedly taking the right measures to prevent potential conflicts, unlike OpenAI, which encountered lawsuits.
Notably, it held talks with major publishers such as Condé, IAC, and NBC News to train its AI model. For reference, Condé Nast owns Vogue and The New Yorker, while IAC owns People, Investopedia, and others.
With anticipation building for Apple’s artificial intelligence plan, particularly ahead of the WWDC 2024, where it will unveil iOS 18, major shareholders are urging to understand how it plans to utilize the AI technology and other pertinent details.
Major Shareholders Stress Over How Apple Wants to Use Artificial Intelligence
The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) wants Apple to tell everyone how it uses AI and what rules it follows. Norges Bank and Legal & General, one of the major shareholders of Apple Inc., second this idea.
Following this, Norges Bank, overseeing the largest sovereign wealth fund globally, highlighted the significance of Apple taking into account the social repercussions of its products. Legal & General similarly voiced concern regarding Apple’s insufficient transparency regarding risks associated with AI.
Notably, the Financial Times reported that Legal & General held discussions with Apple on AI. However, Cupertino rejected sharing any plans regarding development or usage.
With major shareholders trying to squeeze blood out of the stone, Apple is urging investors to reject the resolution, citing concerns that the request report is overly broad and could reveal secrets that could hurt its competitiveness. Even though these votes usually don’t force companies to do anything, if more than 30% of investors support it, it could push Apple to act.
Major shareholders like The Vanguard Group, BlackRock, and Berkshire Hathaway have previously have made moves to influence company director. However, there is no evidence of investors pressuring the company to reveal sensitive information, such as Apple’s artificial intelligence plans.
Regardless of the outcome, we anticipate that Apple will make significant strides with the launch of iOS 18.