Meta Faces Shareholder Pressure on AI Risks
May 31, 2024
Meta is preparing to address concerns from shareholders about the growing threats of generative artificial intelligence at its annual investor meeting. The tech giant’s shareholders are pushing for a report on the costs associated with AI, including financial, reputational, legal, and regulatory risks, as well as measures to protect people from misinformation. The proposal was co-filed by Arjuna Capital, Open MIC, and Ekō, representing Meta’s investors. With Meta planning to scale its investment in AI from $5 billion to $40 billion by the end of 2024, shareholders are urging the company to take action on these concerns. The issue is particularly urgent given the upcoming U.S. and global elections.
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