Legendary investor Warren Buffett has issued a major warning about artificial intelligence, comparing the red-hot technology to nuclear weapons during a recent shareholder meeting, Axios reports.
Buffett's concerns center around the rapid proliferation of AI-powered scams. The American financier has stated that the technology "scares the hell out of him."
According to the "Oracle of Omaha," AI has developed to the point where it is hardly possible to decipher what's real and what's actually fake.
Buffett, one of the richest people, jokingly described scamming as "the growth industry" of all time.
Alex DovbnyaAt the same time, he has also acknowledged that his knowledge about AI is limited.
The billionaire himself has already fallen victim to scammers. Buffett has recalled how someone used the AI technology to create a convincing deepfake video of him in order to part someone with their money.
Of course, Buffett is far from being the only businessman whose identity has been exploited by nefarious actors. As reported by U.Today, Ripple CEO Brad Garlinghouse has also repeatedly complained about AI fraudsters using his identity in order to promote XRP scams.
Plenty of prominent executives have also recognized the promise of AI technologies, with JPMorgan CEO Jamie Dimon recently comparing it to the steam engine.
In fact, AI is now also used for detecting AI-powered deepfakes. Tech giant Microsoft recently introduced an authenticator tool that is capable of analyzing photos and videos in order to determine whether or not they have been manipulated.
It is worth noting that Buffett is also one of the most vocal Bitcoin critics. Last year, the legendary investor famously called Bitcoin "a gambling token."
Yuri Molchan
Vladislav Sopov
Dan Burgin