Omaha, Nebraska – Warren Buffett expressed caution towards embracing artificial intelligence (AI) during Berkshire Hathaway’s annual shareholder meeting. Buffett highlighted concerns about the technology’s potential for misuse, particularly in the realm of generating deceptive content aimed at defrauding individuals.
Scammers have been known to leverage AI voice-cloning and deep-fake technology to create convincing videos and images impersonating loved ones, requesting money or personal information. Despite acknowledging AI’s positive applications, Buffett emphasized the significant risks associated with the technology, citing his lack of comprehension towards its complexities.
The rise of AI has captured Wall Street’s attention for over a year, with investors banking on its capacity to drive profits higher in the future. Companies like Nvidia and Meta Platforms have experienced substantial growth during the AI boom, with their stocks soaring since the end of 2022.
Despite AI’s promising prospects, Buffett admitted his unfamiliarity with the technology, drawing parallels between its potential impact and that of the atomic bomb during the 20th century. He likened the release of AI to letting a powerful genie out of the bottle, expressing trepidation over the unforeseeable consequences it may bring.
Buffett cautioned against underestimating the power of AI, urging for vigilance in navigating its implications for society. He underscored the challenge of containing the technology once unleashed, mirroring the irreversible nature of nuclear weapons development. The Investing icon underscored the importance of recognizing both the groundbreaking advancements and potential pitfalls of AI as society grapples with its transformative influence.