During Berkshire Hathaway’s annual shareholder meeting in Omaha, Nebraska, co-founder Warren Buffett expressed apprehension about the proliferation of AI deepfakes and their potential to facilitate scams.
Buffett, currently the ninth richest person globally as of April 2024, highlighted the company’s growth despite the passing of vice chairman Charlie Munger in November 2023. However, the discussion shifted to AI during a Q&A session.
Buffett admitted his lack of expertise in AI but emphasized its significance, drawing parallels between its impact on illicit financial activities and the advent of nuclear weaponry.
Buffett recounted an unsettling experience where he encountered a deepfake doppelganger that closely resembled him in appearance, movement, and speech. He expressed concern about the potential for scammers to exploit such technology for financial gain.
Buffett likened AI-enabled scams to a burgeoning “growth industry,” expressing uncertainty about distinguishing between genuine and fraudulent communications.
Despite his reservations about AI, Berkshire Hathaway’s largest investment holdings include Apple, the world’s second most valuable company. Buffett noted Microsoft’s ascent to the top spot after significant investments in OpenAI, the creator of ChatGPT.
Apple, perceived to be catching up in the AI arena, has directed attention towards generative AI products as part of its strategic focus. This shift indicates the company’s efforts to stay competitive in the rapidly evolving AI landscape.
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