Apple Inc. shareholders voted down a proposal for an artificial intelligence transparency report during the company's annual meeting on Wednesday. The proposal, submitted by AFL-CIO Equity Index Funds, aimed to investigate whether Apple is using AI technology ethically. Shareholders also rejected several other measures related to equal employment policies, civil liberties, pay gaps, and human rights, while approving the board slate and the executive compensation plan.

The AI proposal urged Apple to disclose the ethical guidelines it follows in adopting the technology, citing concerns about biased decisions, employee privacy violations, and potential layoffs due to automation. Interestingly, the proposal was read by Apple retail store employee Michael Forsythe, who expressed concerns about the company's AI expansion. Forsythe was involved in a unionization push at an Apple store in Oklahoma City.

During the shareholder meeting, CEO Tim Cook highlighted Apple's commitment to advancements in AI, promising to "break new ground" in the field this year. Apple has been relatively secretive about its plans for generative AI, but has hinted at discussing them later in the year, possibly during the annual developers conference in June.

Cook's compensation has been a topic of discussion, with his pay dropping by 36% in 2023 to $63.2 million, mostly due to reduced stock awards. Looking ahead, his target stock award for 2024 is set at $50 million, an increase from the previous target of $40 million. The company also announced changes to its board composition, with longtime directors like Al Gore and James Bell not standing for reelection due to reaching the age threshold of 75. Instead, former Aerospace Corp. CEO Wanda Austin is set to join the board.

Overall, the annual meeting provided insights into Apple's current stance on AI technology, its strategic direction, and upcoming changes in leadership and governance.