US regulator denies Apple, Disney bids to skip votes on AI

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Apple and Disney cannot avoid shareholder votes about their use of artificial intelligence put forward by a labor group, the top U.S. securities regulator has ruled.

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05 Jan 2024

In notices dated Jan. 3, the U.S. Securities and Exchange Commission rejected requests by the iPhone maker and by the entertainment giant to exclude from their upcoming annual meetings calls for reports on their use of AI.

Corporations have embraced the new technology for its promised efficiencies. But the trend has prompted fears it would replace many creative and professional workers or unfairly draw on their work, issues in recent Hollywood labor disputes and a recent New York Times lawsuit.

The similar shareholder proposals were filed by a pension trust of the AFL-CIO, the largest American labor union federation, which also has AI measures pending at four other technology companies.

At Apple, the group asked for a report on the company's use of AI «in its business operations and disclose any ethical guidelines that the company has adopted regarding the company’s use of AI