ISLAMABAD: Warren Buffett took a cautious stance on artificial intelligence at Berkshire Hathaway's annual meeting on Saturday, again likening it to the emergence of nuclear weapons and warning about the potential for fraud, Fox News reported.
“I don't know anything about AI,” admitted the billionaire investor and Berkshire Hathaway co-founder. “But that doesn't mean we deny the existence or importance of AI or anything like that.”
He repeated his remarks from last year. “When we developed nuclear weapons, we let a genie out of the bottle. And that genie has been doing terrible things lately. And that genie's power really terrifies me. On the other hand, I don’t know how to put the genie back in the bottle.”
The 93-year-old philanthropist said AI is “somewhat similar.”
“It's on its way out of the bottle and it's so important and it's going to be done by someone that we might wish we hadn't seen that genie. Or it might do something great. “I can’t,” he said.
He also spoke of the “huge potential” for fraud using AI.
“If you can recreate an image, you can't even say, 'I need money.' 'That's your daughter, she just got into a car accident. I need to send you $50,000.' But if I'm interested in investing in fraud, fraud is going to be the fastest growing industry of all time. And that's enabled in some ways, which is good for AI, of course. Based on what I've seen recently, I don't see why you would end up sending money to yourself in a crazy country over and over again.
He said there was no advice on how the world should deal with AI. But as someone who doesn't understand anything about it, I think it's very likely that it will do good and very likely harm, but I don't know how it's going to play out. ”
