Warren Buffett expressed deep concerns about artificial intelligence (AI) during Berkshire Hathaway’s annual shareholder meeting in Omaha, Nebraska. The 93-year-old co-founder, chairman, and CEO likened AI to nuclear weapons, suggesting that its development has opened Pandora’s box, with potentially significant consequences.
Buffett admitted his limited understanding of AI’s technical intricacies but stressed his apprehensions about its misuse. He recounted an unsettling incident where an AI tool convincingly replicated his image and voice, raising fears of widespread deception through deep fakes. The proliferation of such scams, he warned, could pose significant risks.
Despite Berkshire Hathaway’s adoption of AI to enhance efficiency, Buffett cautioned about its potential to displace labor. While acknowledging AI’s positive transformative potential, he emphasized the need for caution due to its considerable capacity for both good and harm.
The global rise of AI has already reshaped numerous industries, with nearly 40% of global employment potentially affected, according to the International Monetary Fund. Companies associated with the AI boom, such as chipmaker Nvidia and Microsoft, have seen substantial stock value increases.
Buffett’s concerns echo those of other business leaders, including JPMorgan Chase CEO Jamie Dimon, who highlighted AI’s transformative influence in his shareholder letter. Dimon also emphasized the risks posed by malicious AI applications, citing increased hacking attempts targeting financial institutions.
The apprehension extends beyond business circles, with a survey of CEOs indicating widespread fears about AI’s long-term impact, including potential existential threats. This sentiment has prompted calls for global action to mitigate AI-related risks, with industry leaders and academics advocating for measures to safeguard against AI-induced “extinction” risks.
Source: edition.cnn.com
