Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc., and his right-hand man, Charlie Munger, shared a cautionary view of artificial intelligence (AI) during the company’s annual meeting in Nebraska. Buffett, who once labeled Bitcoin “rat poison”, believes AI holds an even greater potential threat than the cryptocurrency. Comparing the invention of AI to that of the atom bomb, he voiced his concerns of its extensive potential capabilities. Similarly, Munger was also skeptic of AI, claiming that “old-fashioned intelligence works pretty well”.
The two business magnates’ sentiment towards AI echoes multiple cautions from tech and business leaders. Apple’s co-founder Steve Wozniak, OpenAI’s former head of AI alignment Shahar Avin and even the father of AI, John McCarthy, have voiced their concerns of the rapid advancement of AI. Buffett and Munger further advised entrepreneurs against taking on too much risk and urged for maintaining friendship ties with China.
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. It is the largest of the world’s five biggest investment firms and offers a wide array of services and products including insurance, energy, and airline services and railroad, textile, and furniture manufacturing. Additionally, the company also generates a great amount of revenue from retail, finance, and chemicals. Chairman Warren Buffett and his right-hand man Charlie Munger have led the company since 1965, building Berkshire Hathaway into one of the most successful and largest companies in the world.
Warren Buffett, also known as the “Oracle of Omaha”, is one of the world’s most successful investors. Having had an interest in business from a young age, Buffett went on to attend Columbia University, where he eventually earned a master’s degree. After spending time working as a stockbroker, Buffett founded Berkshire Hathaway in 1965, which has since become one of the most profitable companies in the world. Buffett is known for his investment philosophy of long-term, value-based investing that takes into account underlying principles such as earnings and potential growth in a company’s stock. Additionally, Buffett is also known for his philanthropic work, having donated over $32 billion to charities and organizations throughout his lifetime.
