Warren Buffett has yet to jump into the field of artificial intelligence, warning about the technology’s potential for harm.
Buffett said at of Berkshire Hathaway annual shareholders meeting on Saturday. Buffett points to the technology’s ability to reproduce realistic and misleading content in an effort to send money to bad actors.
Scammers are already know how to use it AI deep spoofing and voice cloning technology to manipulate videos and images to impersonate an individual’s family and friends to solicit money or personal information.
“Obviously, AI also has the potential for good things, but… I really think, as someone who doesn’t understand anything about it, it has enormous potential for good things and the potential to cause harm. Huge harm – and I just don’t know.” know how that happens,” Buffett added.
Warren Buffett takes the floor before the Berkshire Hathaway Annual Meeting of Shareholders in Omaha, Nebraska on May 3, 2024.
David A. Grogen | CNBC
AI has been the talk of Wall Street for more than a year, as investors bet on the technology’s potential to deliver higher returns in the future. Stocks like Nvidia and Meta Platforms have soared during the AI boom, up 507% and 275% respectively since the end of 2022.
However, the investment legend admitted he was not familiar with AI and compared its potential to atomic bombs in the 20th century.
“I don’t know anything about AI. That doesn’t mean I deny its existence or its importance or anything like that,” Buffett said in a cautious tone. “We let the genie out of the bottle when we developed nuclear weapons and that genie has recently done some terrible things, and the power of that genie is what scares me.”
“I don’t know how to put the genie back in the bottle, and AI is somewhat similar. It’s part of the process of getting out of the bottle and it’s extremely important and it’s going to have to be done by someone… whether that’s going to change the future of society, we’ll find out later,” Buffett said. more.
