Warren Buffet warns against artificial intelligence. He compared it to an atomic bomb
Warren Buffet admitted that he does not understand many aspects of modern technologies, but they scare him. He compared developing artificial intelligence to letting a genie out of a bottle. Once freed, he will never return to that bottle.
Warren Buffett, founder of the Berkshire Hathaway fund, one of the most famous stock market investors in history and one of the richest people in the world, admitted that he does not understand many modern technologies, but they scare him.
Warren Buffet is afraid of artificial intelligence
At the annual shareholder meeting in Omaha, Nebraska, the 93-year-old billionaire shared some of his thoughts with the audience. In his opinion, the development of AI may lead to “letting the genie out of the bottle” – and as we know, once released, it will never come back. In other words, any damage caused by the development of artificial intelligence cannot be undone. Buffett compared the development of this aspect of technology to the creation of nuclear weapons several decades ago – we still have to live with the consequences of their existence today.
He talked about a situation that worried him very much: some time ago, his image and voice were processed using a tool supported by artificial intelligence and were so convincing that they could deceive his own family. He added that scams using these deepfakes are likely to become more common.
– If I were interested in investing in fraud, I would consider artificial intelligence to be a promising industry – he told the audience.
Buffet also pointed out that the operation of AI cannot be controlled by laws or codes of ethics.
Warren Buffett has named a successor
Artificial intelligence topics appeared on the margins of other topics that Buffett wanted to inform shareholders about. He announced that Berkshire Hathaway has $189 billion of available funds to invest. Buffett, however, announced that the holding would not pay a dividend. He has long been of the opinion that paying dividends is not only the least profitable way to reward an investor, but also the most inflexible when it comes to managing a holding company.
– There are more profitable ways to use this capital – argued the billionaire.
