Crypto News – At the company’s annual shareholder meeting, co-founder of Berkshire Hathaway Warren Buffett recently voiced his opinions on AI deepfakes and the perpetuation of fraudsters.
AI vs Nukes: Warren Buffett Criticizes Harshly AI
Buffett’s net worth increased by around $16 billion in the first five months of 2024 alone, making him the ninth richest person in the world as of April 2024. In spite of Vice Chairman Charlie Munger’s death in November 2023, he praised the company’s progress and tenacity during the shareholders meeting in Omaha, Nebraska.
But as the meeting went on, the discussion swiftly shifted to artificial intelligence. “I don’t know anything about AI but that doesn’t mean I deny its existence, importance, or anything of the sort,” Buffett stated in response to a question and answer session. After this beginning, he likened the development of AI technology in illegal finance to the introduction of the atomic bomb and the spread of nuclear weapons.
Berkshire Hathaway’s Investment in Apple Makes Buffett’s Criticism More Interesting
Although this is the first time Buffett has expressed concern about AI, it is noteworthy that most of Berkshire Hathaway‘s investments are concentrated in Apple, the world’s second most valuable company. Moreover, much of the company’s focus is on productive AI products.
I mean, scamming has always been part of the American scene, but this would make me, if I was interested in investing in scamming, it’s going to be the growth industry of all time. And it’s enabled in a way. Obviously, AI has potential for good things too but I don’t know how you, based on the one I saw recently, I practically would send money to myself over and over in some crazy country.
Buffett
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