Special topic: Buffett's 2024 shareholders' meeting hit

Buffett: AI letFreepinballI feel nervous.

Source: Wall Street, Zhu Xi.

Buffett recently warned of the potential dangers of AI technology. He said bluntly that fraud has always existed in American society, but if he is interested in investment fraud, it will be the biggest growth industry in history. Buffett linked artificial intelligence to nuclear weapons. He also mentioned that any labor-intensive industry will be threatened by AI.

At Buffett's shareholders' meeting on Saturday, shareholders will naturally ask Buffett about the hottest investment in artificial intelligence (AI). Currently, there is no particular artificial intelligence target in Berkshire's portfolio, and Buffett recently warned of the potential dangers of AI technology.

Buffett said bluntly that fraud has always existed in American society, but if he is interested in investment fraud, it will be the biggest growth industry in history:

If I am interested in investment fraud, then artificial intelligence will be a huge growth industry. Obviously, artificial intelligence also has the potential to do good. As a person who doesn't know anything about artificial intelligence, AI has great potential benefits and harm, and I just don't know what the result will be.

Buffett pointed out that AI technology can replicate real and misleading content, and his experience in artificial intelligence (AI) makes him very nervous. There is an image in front of him: there are his people, his voice, wearing his clothes, but conveying a message that he cannot possibly convey.

Buffett further gives an example of how potential victims remit money to bad actors:

When you think about the potential of AI fraudulent people, for example, if you can copy an image that I can't even recognize that says I need money; or, for example, your daughter says, "I just got out."FreepinballIn a car accident, I need to remit 50,000 US dollars.

So Buffett is careful to say that he knows nothing about artificial intelligence, but that doesn't mean he denies its existence or importance or anything like that.

Buffett also links artificial intelligence to nuclear weapons because both have great potential for change:

As I said, when we developed nuclear weapons, we let the genie run out of the bottle, and the elf did some terrible things, and the power of this elf scared me very much. I don't know how to put the genie back in the bottle. Artificial intelligence is similar.

This is part of the way to get rid of the bottle, and it is very important, and who will do it. We will see later whether it will change the future of society.

Some investors asked, now that the genie of AI has been released from the bottle, which business of Berkshire has the biggest risk in front of AI? Overall, according to Buffett and Greg Abel, head of Berkshire's non-insurance business, any labor-intensive industry is threatened by AI, and of course you can get more entertainment time.

Greg says that when we think about artificial intelligence in many business units, we do try to think about how it makes us more efficient and effective, which leads to more free time, we may not consider iterative artificial intelligence, and we are studying very specific processes that our employees can implement it.

Greg also says artificial intelligence sometimes replaces the workforce, but hopes they can find other opportunities within the company. When you think about all our businesses, we do have a lot of people in a lot of businesses, but I think what really matters as a company at this stage is that if dangerous processes are involved, how we do things will be more effective, more efficient and safer.

Buffett and Greg point out that every company is talking about AI now, but what can be done more safely? Many things are too early to draw conclusions, and it is impossible to predict them now, and it is too early to make a correct prediction. Of course, AI is absolutely incredible. They warn again that there may be a better advantage in using AI at the social level, but there will be a problem if you use AI to do something like an atomic bomb or something inappropriate.

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