Shareholders highlight big tech’s need to prioritise human rights
"Why shareholders don’t trust Big Tech — and how to fix that", 25 May 2023.
Big Tech is plowing ahead with the development and implementation of AI and AI-based tools, and companies’ AI blunders and mishaps are stirring heated debate on the human rights implications. Even though some of the media coverage may be inadvertently feeding the AI hype cycle, we’re also seeing critical, grounded calls for proper human rights safeguards, transparency, and oversight...
...as we head into Big Tech’s Annual General Meeting (AGM) season, there are a number of shareholder proposals backing changes with the potential to transform the tech sector for the better. These changes are important for safeguarding human rights and mitigating the risks of technology, including those of AI...
...In our review of proposals for Amazon, Alphabet, and Meta, three core themes emerge:
1.Shareholders don’t trust companies to identify and mitigate human rights harms
Amazon, Alphabet, and Meta have clearly failed to earn shareholder trust regarding how they conduct risk management and mitigation...
2. Shareholders are demanding greater transparency around products, policies, and practices that actively undermine human rights
It is clear that all three companies have also failed to demonstrate the capacity to adequately self-correct without oversight...
3. Shareholders want to change voting structures to render companies more accountable to the broader investor community
At both Meta and Alphabet, shareholders have submitted proposals directly requesting the removal of outdated and opaque voting structures to ensure all shareholders have equal voting powers...
...With competition in AI accelerating, it is not only the shareholder responsibility, but that of regulators, governments, end users, and societies at large to demand transparency and accountability from Big Tech. Addressing the human rights risks of AI and other technologies now is imperative for everyone...