Billionaire investor Warren Buffet has joined the rising chorus of critics of artificial intelligence (AI), comparing the technology to the development of the atomic bomb. Buffet made the statements while debating the future of artificial intelligence at Berkshire Hathaway’s annual meeting in Omaha, Nebraska, on Saturday.
Buffet voiced concerns about the program’s ability to rapidly improve over time while discussing how AI could affect stock markets and society as a whole.
The 92-year-old investor did acknowledge AI’s “amazing capabilities” after receiving a lecture on Open AI’s Chat GPT three months ago from his “buddy” Bill Gates, one of Microsoft’s founders. Microsoft has made significant investments in OpenAI. He went on to say that he was amazed at the AI’s enormous capabilities, including the ability to verify all legal opinions “since the beginning of time.”
“When something can do all kinds of things, I get a little bit worried,” the 92-year-old investor said.
“Because I know we won’t be able to un-invent it and, you know, we did invent, for very, very good reason, the atom bomb in World War II.”
Buffett continued, “It was enormously important that we did so. But is it good for the next 200 years of the world that the ability to do so has been unleashed?” Fox Business reported.
The CEO of Berkshire Hathaway further said that he believes AI will change “everything in the world, except how men think and behave.” “And that’s a big step to take,” he said.
Berkshire Hathaway’s 99-year-old vice chairman Charlie Munger, who was present with Buffet, also expressed concern about the rise of AI technology.
“I am personally skeptical of some of the hype that has gone into artificial intelligence,” he said.
“I think old-fashioned intelligence works pretty well.”
Growing Concerns and Calls for Caution: Prominent Figures Sound the Alarm on AI’s Potential Risks
Berkshire Hathaway’s 99-year-old vice chairman Charlie Munger, who was present with Buffet, also expressed concern about the rise of AI technology. Buffet isn’t the only one who has expressed concerns about the possible hazards of artificial intelligence. In late March, more than 1,000 experts and technologists, including Elon Musk, signed a petition calling for a six-month moratorium on AI development because it posed “profound risks to society and humanity.”
“Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable,” the letter said.
Indeed, Open AI CEO Sam Altman revealed they are “a little bit scared” of their development, claiming that it could wipe out many current jobs.
“We’ve got to be careful here…I think people should be happy that we are a little bit scared of this,” the 37-year-old tech entrepreneur told ABC News.
When asked to explain why he was “scared”, Altman replied that if he wasn’t “scared” then “you should either not trust me or be very unhappy that I’m in this job.”