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Apple shareholders reject AI disclosure proposal
Economic Times
·
1y ago
Medial
At Apple's annual shareholder meeting, a proposal by the pension trust of the AFL-CIO asking for more transparency on Apple's use of artificial intelligence (AI) and ethical guidelines for the technology was rejected by shareholders. The proposal sought a report on AI usage and disclosure of ethical guidelines. The AFL-CIO expressed concerns about AI systems using copyrighted works and professional performers' voices without proper compensation. Apple opposed the measure, citing the risk of revealing its competitive strategy in the AI market. A similar proposal will be presented at Walt Disney Co's annual meeting in April.
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Apple shareholders not expected to scrap diversity programs despite broader backlash
Economic Times
·
5m ago
Medial
Apple shareholders are expected to reject a proposal by the National Center for Public Policy Research to scrap Apple's diversity, equity, and inclusion programs, similar to a recent proposal rejected by Costco. Despite legal risks cited by the proposal's proponents, Apple argues its diversity initiatives are essential to its success and market value. The proposal highlights potential litigation risk but is unlikely to succeed, as Apple's management remains committed to diversity efforts.
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Apple's shareholders will let it keep its AI business under wraps
Business Insider
·
1y ago
Medial
Apple's shareholders have rejected a proposal by AFL-CIO Equity Index Funds to release a transparency report on how the company uses artificial intelligence (AI) and whether it does so ethically. The labor union federation believes that transparent ethical guidelines regarding AI usage would safeguard workers, consumers, and the public from potential harms. The request also called for the protection of copyrighted works and compensation for creators. However, Apple shareholders argued that divulging too much information could compromise the company's competitive advantage. Similar proposals are expected to be presented to Disney shareholders in April.
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Apple to disclose AI plans later this year: CEO Tim Cook
Economic Times
·
1y ago
Medial
During Apple's annual shareholder meeting, CEO Tim Cook announced that the company plans to unveil more details about its use of generative artificial intelligence (AI) later this year. Cook highlighted the breakthrough potential that generative AI offers, especially in terms of productivity and problem-solving. While Apple has been slower to integrate generative AI compared to competitors like Microsoft and Google, Cook emphasized that AI is already working behind the scenes in Apple's products. Apple shareholders rejected a proposal requesting more information on the company's AI usage and ethical guidelines, put forth by the AFL-CIO pension trust. Apple cited concerns about revealing its strategy in the competitive AI market.
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Developers Are in Open Revolt Over Apple’s New App Store Rules
Wired
·
1y ago
Medial
Developers in Europe are expressing their frustration and revolt against Apple's new App Store rules, which they claim further consolidate Apple's control and power. They accuse Apple of acting like a "dictator" and treating iPhones as its own territory, tightly controlling developers' access and taking a share of their profits. Although Apple introduced new rules to comply with the EU's Digital Markets Act, developers argue that the terms are restrictive and discourage them from moving away from the existing system. They hope to pressure the European Commission to reject Apple's proposal and potentially impose fines.
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US election officials split on AI disclosure rules for political ads
Economic Times
·
1y ago
Medial
The Federal Election Commission (FEC) is divided on whether artificial intelligence (AI) generated content in political advertisements should require disclosure. FEC vice chair Ellen Weintraub supports a proposal by the Federal Communications Commission (FCC) to require disclosure of AI content in political ads, while FEC Chair Sean Cooksey opposes it. Concerns have been raised that AI-generated content could mislead voters, particularly with the use of deep fakes. The FCC has the authority to regulate broadcast ads but not internet or social media ads. There are calls for greater transparency in disclosing the use of AI-generated content in political ads.
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Apple may soon be feeling the heat from investors over its slow rollout of buzzy AI products
Business Insider
·
1y ago
Medial
Apple is lagging behind other tech giants in developing generative AI products, leading investors to question its commitment to the technology. Companies like Google, Microsoft, and Meta have been releasing AI products frequently, but Apple has yet to make significant announcements. CEO Tim Cook reassured shareholders that Apple is investing in AI and believes it has transformative potential. However, he did not provide specific details about the company's AI development. Apple shareholders also rejected a request for an AI transparency report that would have examined the ethics of the company's AI usage.
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SoftwareOne says its board plan backed by ISS amid power struggle
Economic Times
·
1y ago
Medial
Swiss IT services provider SoftwareOne's compromise proposal to resolve a boardroom dispute with founding shareholders has received support from proxy advisory firm Institutional Shareholder Services (ISS). The founding shareholders, who control around 29% of the company's stock, had sought to vote out the current board of directors to facilitate a takeover. SoftwareOne's proposal suggests electing a proportionate number of the founding shareholders' nominees to the board, which has been approved by ISS. The annual general meeting is scheduled for April 18. ISS advises against a full replacement of the board proposed by the shareholders.
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OpenAI apparently hasn’t actually received Elon Musk’s acquisition offer.
The Verge
·
5m ago
Medial
Elon Musk offered to acquire OpenAI for $97.4 billion, but OpenAI has not received a formal proposal. Sam Altman informed employees that the board, which he is part of, has no official offer and plans to reject the bid if it comes. OpenAI staff reacted with fear and frustration over Musk's acquisition news.
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Elon Musk must face fraud lawsuit for disclosing Twitter stake late
Economic Times
·
1y ago
Medial
Elon Musk must face a lawsuit alleging he defrauded former Twitter shareholders by delaying disclosure of his investment in the social media platform, which he later acquired and renamed X, according to a U.S. judge's decision. Shareholders claim Musk defrauded them by waiting 11 days beyond a U.S. Securities and Exchange Commission deadline to reveal his 5% stake in Twitter. The judge dismissed an insider trading claim but ruled that shareholders could try to prove Musk intended to defraud them. Musk's lawyers argued that any disclosure failure was inadvertent. Musk acquired Twitter for $44 billion in 2022.
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Elon Musk may leave Tesla if $56 bn pay not approved, Denholm warns shareholders
Livemint
·
1y ago
Medial
Tesla's Chairperson, Robyn Denholm, has stated that CEO Elon Musk may leave the company if shareholders vote against his $56 billion pay package during the upcoming shareholders meeting. Denholm emphasized that motivating someone like Musk requires a different approach, and if shareholders reject the pay package, Musk may take his talents elsewhere. The approval process for Musk's compensation package was recently voided by a Delaware judge for being "deeply flawed". Denholm argued that the package is not about the money but about retaining Musk's focus and commitment to Tesla.
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