Warren Buffett warned of artificial intelligence’s potential for scamming at Berkshire Hathaway’s annual shareholder meeting this weekend, noting how it can create realistic, misleading content that fills the wallets of bad actors.
“When you think about the potential for scamming people … if I was interested in investing in scamming, [AI] gonna be the growth industry of all time and it’s enabled,” Buffett said.
Buffet admitted that he doesn’t know much about the technology and that AI also has the potential to be beneficial, but he also compared its potential to that of the atomic bomb’s in the mid-1900s.
“I don’t know anything about about AI. That doesn’t mean I deny its existence or importance or anything of the sort,” Buffett said. “We let the genie out of the bottle when we developed nuclear weapons and that genie has been doing some terrible things lately, and the power of that genie is what scares the hell out of me.”
