Blackwells Capital, an activist investor firm campaigning for seats on Disney’s board of directors, says the company should be “dominating” in the field of artificial intelligence (AI).
The firm, which has nominated three people to join Disney’s board, released a report titled ‘The Future of Technology’ on Monday (26 February), which calls for Disney to expand investment in AI to increase its stock price.
“Disney should be dominating in the fields of spatial computing and AI,” Jason Aintabi, Blackwells’ chief investment officer, said in a statement.
How Disney could use AI in theme parks
“Few companies have the potential of Disney to synthesize these revolutionizing technologies, and relate them to consumers with the impact, and ROI, that Disney can.”
In a video statement on YouTube, Aintabi said: “Disney will never be valued as a technology company so long as it does not think like a technology company.”
Aintabi and Blackwells suggest Disney could develop AI assistants for its theme parks, and use ChatGPT’s AI tools to create Disney characters. The company could also utilise AI to analyse attendance in real time.
Also on Monday, Disney’s board sent a letter to shareholders detailing its progress on its strategic priorities. “The board has been laser-focused on a strategy that will drive shareholder value,” the letter reads.
“Disney’s board of directors believes all of its 12 nominees are uniquely qualified to continue this important progress and create long-term shareholder value.”
In addition to Blackwells, Disney is preparing for a proxy battle with billionaire Nelson Peltz’s Trian Fund Management.
In the letter to shareholders, Disney said its board “does not endorse the Trian Group nominees, Nelson Peltz and Jay Rasulo, or the Blackwells nominees, Craig Hatkoff, Jessica Schell and Leah Solivan, and believes that they are unqualified to serve on Disney’s board and preserve value creation for shareholders in this increasingly complex global landscape”.
Images courtesy of Disney
