SEC denies Apple's bid to stop shareholders questioning its use of AI

AppleInsiderAppleInsider
Posted:
in General Discussion edited January 5

The Securities and Exchange Commission has rejected requests by both Apple and Disney to exclude AI from discussions at their forthcoming annual shareholders meetings, saying the subject "transcends ordinary business matters."

Apple Park
Apple Park



Ahead of the shareholders meetings that Apple, Disney and major corporations are required to hold annually, there is always a series of proposals for what will be discussed there -- and Apple applies to the SEC for permission to refuse any it doesn't want to answer. Previously, that's included topics such as employee non-disclosure agreements, which the SEC concluded Apple must allow discussion about.

According to Reuters, AFL-CIO, the American labor union federation, filed a request with both Disney and Apple to report on AI. Specifically, the group's pension fund staff asked for a report on the use of AI "in [Apple's] business operations and disclose any ethical guidelines that the company has adopted regarding the company's use of AI technology."

For Apple, the AFL-CIO also wrote that "AI systems should not be trained on copyrighted works, or the voices, likenesses and performances of professional performers, without transparency, consent and compensation to creators and rights holders." Brandon Rees, deputy director of the AFL-CIO's office of investment, told Reuters that Apple and Disney "haven't even begun to grapple with these ethical issues."

Apple and Disney separately applied to the SEC, arguing that the proposal should be excluded from the shareholder voting ballots because they concern "ordinary business operations."

The SEC has now replied to both companies, denying the motion. "In our view, the Proposal transcends ordinary business matters and does not seek to micromanage the Company," the agency wrote.

It's routine for corporations to ask the SEC for permission to skip shareholder proposals, and previously the agency has typically granted around half of such requests.

The date for Apple's 2024 shareholders meeting has not yet been announced, but it generally takes place in March.



Read on AppleInsider

Comments

  • Reply 1 of 8
    AulaniAulani Posts: 7member
    "voting ballets"?
    22july2013
  • Reply 2 of 8
    22july201322july2013 Posts: 3,687member
    Aulani said:
    "voting ballets"?
    Errors like that tell us that AI's articles are not written by AI.
    chasmjony0
  • Reply 3 of 8
    magnuskrantzmagnuskrantz Posts: 28member
    22july2013 said:
    Aulani said:
    "voting ballets"?
    Errors like that tell us that AI's articles are not written by AI.
    I think it’s written by AI staff, not to be confused with AI staff.
    Respitejony0
  • Reply 4 of 8
    chasmchasm Posts: 3,496member
    magnuskrantz said:
    22july2013 said:
    Aulani said:
    "voting ballets"?
    Errors like that tell us that AI's articles are not written by AI.
    I think it’s written by AI staff, not to be confused with AI staff.
    LOL
    jony0
  • Reply 5 of 8
    jSnivelyjSnively Posts: 433administrator
    You got us. We don't use AI to write our content -- 100% sloppy meaty humans only : )

    Disclaimer:
    William has been ethically raised. He has adequate access to the outdoors and can graze anytime he wants
    edited January 5 beowulfschmidtchasmjony0
  • Reply 6 of 8
    danoxdanox Posts: 3,246member
    No comment at this time AI is just a marketing buzzword, but we are keeping a eye on it :) ..... Tim Cook
    22july2013jony0
  • Reply 7 of 8
    beowulfschmidtbeowulfschmidt Posts: 2,295member
    What companies evade answering, or speak around without actually addressing, is often as telling as the actual answers are.
  • Reply 8 of 8
    RespiteRespite Posts: 111member
    It's the things that they don't want to talk about that everyone should be asking them about.
Sign In or Register to comment.