Apple is currently under pressure from its major investors to reveal its use of artificial intelligence tools. According to the Financial Times, these investors argue that Apple’s current guidelines do not sufficiently address the potential risks associated with AI. A resolution is set to be discussed tomorrow during the company’s annual shareholder meeting.
With the AI competition intensifying, Apple’s secretive approach to its AI developments has raised concerns among investors and partners who fear the company may be falling behind its rivals. Consequently, some of Apple’s major shareholders are supporting a resolution that would compel the company to disclose more information about its AI initiatives and potential risks.
Transparency Concerns
Norges Bank has emphasized the importance of Apple considering the social impact of its operations and products. Similarly, Legal & General has criticized the limited information provided by Apple regarding its management of AI-related risks.
The Institutional Shareholder Services, an investor advisory firm, has also recommended that Apple shareholders vote in favor of an AI resolution at the upcoming meeting. ISS argues that Apple’s existing guidelines do not adequately address AI-related risks, making it challenging for shareholders to evaluate these risks.
It remains uncertain whether these investors are worried that Apple’s characteristic secrecy around AI usage might conceal data misuse and potential consequences in the future, or simply believe that Apple is missing out on the AI trend sweeping other companies and industries
Apple’s Response
Apple, renowned for its secretive nature, is pushing back against the AI resolution and urging shareholders to vote against it. The company argues that the requested report’s scope is overly broad and could potentially disclose strategic plans and initiatives that could harm its competitive position.
While Apple is known for revealing its plans only when it sees fit, it has already made significant acquisitions in the AI space. For example, AI.Music is capable of generating AI-driven music tailored to the listener’s mood. Additionally, a major Siri overhaul addressing the digital assistant’s deficiencies with advanced AI capabilities is expected to be unveiled at the Worldwide Developer Conference in June.
Some believe that Apple’s entry into the AI realm cannot come soon enough, but Apple’s course of action, the outcome of the resolution, and any potential revelations remain to be seen.
