Warren Buffett says AI scamming will be the next big 'growth industry'

  • 📰 CNBC
  • ⏱ Reading Time:
  • 39 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 47%
  • Publisher: 72%

Breaking News: Technology News

Markets,Technology,Generative AI

Artificial intelligence has both 'enormous potential for good and enormous potential for harm,' the investing guru said during Berkshire's annual meeting.

"When you think about the potential for scamming people ... if I was interested in investing in scamming, it's gonna be the growth industry of all time and it's enabled, in a way" by AI, Warren Buffett said.

"When you think about the potential for scamming people ... if I was interested in investing in scamming, it's gonna be the growth industry of all time and it's enabled, in a way" by AI, Buffett said at. Buffett pointed to the technology's ability to reproduce realistic and misleading content in an effort to send money to bad actors.

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.AI has been the talk of Wall Street for more than a year, as investors bet on the technology's potential to drive higher profits going forward. Stocks such as Nvidia and Meta Platforms have skyrocketed during the AI boom, up 507% and 275%, respectively since the end of 2022.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett loves dividend-paying stocks, but Berkshire doesn't pay one — Here's whyThe main reason Berkshire doesn't offer a dividend itself is that the Oracle of Omaha has been confident in his ability to more profitably deploy capital.
Source: CNBC - 🏆 12. / 72 Read more »