Warren Buffett Worries About Artificial Intelligence: “Fraud Is The Fastest Growing Industry Ever”

Unpredictable potential

The 93-year-old spoke at the annual meeting of Berkshire Hathaway, the conglomerate and investment firm of which he is chief executive, in Omaha, Nebraska. “We let the genie out of the bottle when we developed nuclear weapons. AI is a bit of the same thing: it’s partially out of the bottle“, he said.

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For entrepreneurs, new AI technologies bring enormous potential, but also great risks. He adds that AI “it has enormous potential for good and enormous potential for evil. I don’t know how it’s going to happen.”

Using the example of a deepfake, a montage created by artificial intelligence, he illustrates the devastating opportunities that AI technologies could have in the future. For Warren Buffett, these technologies have significant potential in the world of fraud. “If I wanted to invest in fraud, it would be the most profitable industry ever”he assured.

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