Warren Buffett Comments On Artificial Intelligence At Berkshire Hathaway Shareholder’s Meeting
At the Berkshire Hathaway annual shareholders meeting headed by Warren Buffett, the man known as ‘The Oracle of Omaha’ took the stage with his right-hand man, Charlie Munger, and other executives to answer questions from shareholders. While the notoriously long six hour meeting divided into two sessions was focused mostly on the core business, Buffett weighed-in on issues that are current in society.
During the shareholder-led Q&A format of the meeting, Buffett returned to the stage flanked the near-centennial Munger, he answered every question posed to him with his trademark skill and insight. One of the questions he fielded was on the topic of artificial intelligence (AI) and its potential impact on the world.
Buffett expressed his concerns about the rapid advancement of technology, comparing the development of AI to the creation of the atomic bomb. He noted that while AI has its limits, it has the potential to change the world in ways that we cannot yet fully comprehend. This is a cause for concern, he said, as it could have unintended consequences that we may not be able to anticipate.
In particular, Buffett expressed skepticism about AI’s ability to replace humans and noted that there are still many things that technology cannot do. However, he also acknowledged that AI has the potential to change everything in the world except for how people think and behave.
Buffett’s comparison of AI to the atomic bomb was particularly striking given his long-standing opposition to nuclear weapons. He has made many comments over the years about the dangers of nuclear war and has even stated that he would give all his money to reduce the likelihood of such an event occurring.
These comments dovetailed with a recent interview with CNBC, where Buffett revealed that it is not the success of Berkshire Hathaway that keeps him up at night. Instead, he worries about the prospect of another pandemic or nuclear war. This concern reflects his deep commitment to promoting peace and stability in the world, as well as his recognition of the risks posed by emerging technologies like AI.
Buffett’s remarks on AI highlight the need for caution and careful consideration as we continue to develop and deploy new technologies. While AI has the potential to transform the world in many positive ways, we must also be mindful of the risks and challenges associated with its use. One can also argue that the 92-year old Buffett does not truly understand the technology given his age, but his comments are not to be dismissed.