Billionaire investor Warren Buffett has issued a stark warning about the potential dangers of artificial intelligence (AI), comparing it to nuclear weapons. Speaking at his annual shareholder meeting in Omaha, Nebraska, Buffett expressed his concerns about the technology, saying it has the potential to bring about great good or great harm.
Buffett, the 93-year-old CEO of Berkshire Hathaway, acknowledged that he doesn't fully understand the technology behind AI, but he fears its potential repercussions. He cited an incident where an AI-backed tool replicated his image and voice so convincingly that it could have fooled his own family. He warned that scams using these deep fakes will likely become increasingly prevalent, calling it a "growth industry of all time."
Buffett's concerns are not isolated. JPMorgan Chase CEO Jamie Dimon has also expressed worries about AI, saying it has the potential to be "transformational" but also poses significant risks. Dimon noted that bad actors are already using AI to try to infiltrate companies' systems and steal money and intellectual property.
A survey of CEOs at the Yale CEO Summit last summer found that 42% of respondents believed AI has the potential to destroy humanity in the next five to 10 years. The survey included responses from 119 CEOs from various industries, including Walmart, Coca-Cola, and IT companies like Xerox and Zoom.
AI industry leaders, academics, and celebrities have also signed a statement warning of an "extinction" risk from AI. The statement, signed by OpenAI CEO Sam Altman, Geoffrey Hinton, and top executives from Google and Microsoft, called for society to take steps to guard against the dangers of AI.
Buffett's company, Berkshire Hathaway, has started using AI in its own business to make employees more efficient, but he acknowledged that it also displaces labor. He said he hopes that new opportunities will arise, but he is not sold on the technology yet.
The AI boom has already transformed workplaces across the world, with nearly 40% of global employment potentially disrupted by AI, according to the International Monetary Fund. Industries from medicine to finance to music have already felt its effects, and shares of companies associated with AI have soared.
While Buffett and others are warning of the dangers of AI, they also acknowledge its potential to bring about great good. It has the potential to revolutionize healthcare, transportation, and education, among other areas. However, as Buffett said, "It has enormous potential for good and enormous potential for harm. And I just don't know how that plays out."
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