At Berkshire Hathaway's annual shareholder meeting, Warren Buffett drew attention to the potential for deepfake artificial intelligence (AI) to be used to commit large-scale financial fraud.
The 93-year-old voiced his concerns after seeing a deepfake video that reproduced his voice, appearance and demeanor with disturbing accuracy. “Fraud has always been a part of American society, but this will leave me… sending money to myself over and over again in some crazy country,” Buffett warned.
He likened the risks posed by AI deepfakes to the proliferation of nuclear weapons invented during World War II. Buffet acknowledged that AI could be an advantage, but noted that realistic counterfeiting could accelerate fraud schemes.
“I mean, fraud has always been a part of American society, but this also ruins me,” the billionaire said of personally targeted deepfakes. His comments show that even smart investors can be fooled by the tricks of machines.
Buffet's Berkshire Hathaway has large stakes in Apple and Microsoft, two of the top companies deeply involved in generative AI. Nevertheless, the famous value investor seems cautious about the potential for abuse.
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