At Netflix’s recent Annual General Meeting, over 40% of votes backed a proposal for detailed information on the company’s use of artificial intelligence. While the board opposed the call for transparency, shareholders believe it is essential to address risks and enhance reputation.
At Netflix’s recent Annual General Meeting (AGM), 43.3% of votes supported a shareholder proposal seeking detailed information on the company’s use of artificial intelligence (AI). This proposal was introduced by AFL-CIO Equity Index Funds through Segal Marco Advisors. Similar proposals were presented at both Apple and The Walt Disney Company, with Apple’s receiving 37.5% support.
The proposal calls for Netflix to issue a report outlining the company’s AI usage across its operations, the board’s oversight role, and any ethical guidelines related to AI. The proponents argued that transparency in AI use could mitigate risks like discrimination in hiring, job automation, and misuse of private data, thereby enhancing Netflix’s reputation.
Netflix’s board recommended a vote against the proposal, stating that the adoption of such a report is unnecessary. They highlighted existing internal guidelines and regular updates provided to the board concerning AI usage and associated risks. The board asserted that the proposal’s broad and vague scope could potentially compromise proprietary information and harm Netflix’s competitive position.
Netflix did not provide immediate comments on the vote results.
