Apple and Disney have been denied the exclusion of shareholder votes on their use of artificial intelligence by the US Securities and Exchange Commission. Both companies requested to avoid calls for reports on their AI usage in their upcoming annual meetings, but the requests were rejected. This decision raises concerns about AI’s impact on job security and fair use of intellectual property. The AFL-CIO, a labor union federation, has filed similar proposals with other technology firms.
American Tower Corp (ATC) has reported a $322 million goodwill impairment charge for its India unit in the quarter ended September 2023. The company cited continuing business challenges as the reason behind the charge. The fair value of ATC’s India unit dropped below its carrying amount in the September quarter.