Shareholders push for ethical AI use at Canada’s biggest companies Jul 23rd

Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.

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Shareholders push for ethical AI use at Canada’s biggest companies

– moneysense.ca

When Canada’s most valuable companies hosted their annual general meetings this year, there was a new topic for shareholders to vote on among the usual requests to appoint board members and OK their executive compensation.

The proposal from Quebec-based investor rights group le mouvement d’éducation et de défense des actionnaires centred on artificial intelligence. It asked 14 companies, including Canada’s biggest banks, retailer Dollarama Inc., and telecom giant BCE Inc., to sign a voluntary code of conduct the federal government developed to govern the technology.

AI-related shareholder proposals are “a new kind of frontier”

Experts say the proposal is likely just the start of what they expect to become an annual phenomenon targeting the country’s biggest companies and beyond.

“This is a new kind of frontier in Canada for shareholder proposals,” said Renée Loiselle, a Montreal-based partner at law firm Norton Rose Fulbright.

“Last year, this was not on the ballot…

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