Warren Buffet has a warning amid the rapid development of AI or artificial intelligence, comparing the new technology to the invention of the nuclear atomic bomb several decades ago.
Buffett, known for his cautious approach to technology investments, raises concerns that AI could pose a serious threat to humanity if not handled carefully.
Warren Buffet Warns Against AI Development
WASHINGTON, DC - JUNE 14: Warren Buffet participates in a discussion during the White House Summit on the United State Of Women June 14, 2016 in Washington, DC. The White House hosts the first ever summit to push for gender equality.
The billionaire chairman of Berkshire Hathaway, Buffett, expressed his worries about the new AI technology during an annual meeting of the conglomerate in Omaha, Nebraska, the New York Post reports.
While Buffetts admits that the power of AI tech these days is quite impressive, he still has his reservations. The 92-year-old billionaire says that the emerging technology is pretty concerning for him. He says, "When something can do all kinds of things, I get a little bit worried."
In a nod to the remarks of Buffett, the vice chairman of Berkshire Hathaway, Charlie Munger, expressed his skepticism of the new technology. The 99-year-old exec emphasized that he still believes that "old-fashioned intelligence works pretty well," noting that he is skeptical of AI amid popularity nowadays.
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Buffet Likens AI to Nuclear Atomic Bomb Invention
NEW YORK, NY - JANUARY 19: Warren Buffett attends 'Becoming Warren Buffett' World Premiere at The Museum of Modern Art on January 19, 2017 in New York City.
Buffett compared AI to the atomic bomb to express his concerns about the new technology. The investor says that we invented the nuclear A-bomb for "very, very good reason" during World War II, noting that the weapon was necessary.
But despite acknowledging that it was "enormously important, he still had some concerns. Buffett then asked this question: "Is it good for the next 200 years of the world that the ability to do so has been unleashed?
Like the A-Bomb, the 92-year-old investor recognizes the role of AI in changing the world. However, he argued that the technology could be used for good or bad. And as such, he finds it crucial to ensure that it does not fall into the wrong hands.
In the same annual meeting, Fortune reports that Buffet revealed that the co-founder of Microsoft, Bill Gates, tutored him on how to use the viral OpenAI chatbot, ChatGPT.
The warning from Buffett serves to remind everyone of the old saying, which expresses that "with great power comes great responsibility." The billionaire notes that it is still up to us humans if AI technology will be used for the greater good to prevent potential misuse.
Besides the hot topic of AI development, Murger and Buffett dived into other pressing issues, such as the relationship between the United States and China. According to 9News Australia, they also spoke about the rules of bank regulators to put bank board members and executives accountable for their reckless actions.
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