Summary by Futu AI
Bowyer Research has recommended that Apple Inc. shareholders vote against Proposal 7, which calls for the company to create a transparency report on its use of Artificial Intelligence (AI) and disclose any ethical guidelines concerning AI technology. The proposal, submitted by Segal Marco Advisors, suggests that without ethical guidelines, AI could lead to social policy issues, labor disruptions, and the replacement of creative professional work. Bowyer Research argues that the proposal demands premature AI self-regulation during a rapidly evolving technological phase, unfairly criticizes AI's role in technological development, and adopts a Luddite perspective that could hinder Apple's innovation and leadership in the industry. Apple, which has hinted at upcoming AI-related products, would face significant operational and reputational risks if it were to comply with the proposal's demands. Bowyer Research concludes that the proposal could jeopardize Apple's ability to innovate and provide value to its shareholders.