By Jonathan Stempel
(Reuters) – A Berkshire Hathaway (BRK-B) shareholder needs a committee of unbiased administrators to supervise dangers related to synthetic intelligence on the dozens of corporations in Warren Buffett’s conglomerate.
Tulipshare, an activist investor group primarily based in London, mentioned on Tuesday it submitted a shareholder decision for Berkshire’s annual assembly on Could 3 to create the committee.
It mentioned improper use of AI may end in information leaks, privateness intrusions, enterprise disruptions and human-rights abuses, and that Berkshire’s affect in lots of industries offers Buffett’s firm a novel alternative to be a pacesetter in AI governance.
Berkshire didn’t instantly reply to a request for remark. Tulipshare didn’t instantly reply to requests for extra remark.
At Berkshire’s annual assembly final Could, Buffett instructed shareholders he knew nothing about AI however didn’t deny its significance, saying it had “huge potential for good and massive potential for hurt.”
Buffett just lately owned 14.4% of Berkshire’s inventory however managed 30.2% of Berkshire’s voting energy, making it troublesome for shareholder proposals to move with out his help.
He and different administrators routinely oppose issuing experiences or creating unbiased board committees to assessment Berkshire’s working companies, citing the decentralization that lets the companies function largely with out interference from the highest.
A proposal final yr to have unbiased administrators oversee security at Berkshire’s BNSF railroad drew simply 3.6% help from shareholders.
Berkshire additionally owns Geico automobile insurance coverage, Berkshire Hathaway Power, Brooks trainers, See’s Candies, and a wide range of industrial, chemical and different retail companies.
The Omaha, Nebraska-based firm additionally invests in shares similar to Apple and Amazon.com, which Tulipshare mentioned it additionally owns.
Buffett, 94, has run Berkshire since 1965.
(Reporting by Jonathan Stempel in New York; Modifying by Rod Nickel)
