Warren Buffett Expresses Concern Over AI-Powered Scams

According to U.Today, renowned investor Warren Buffett has voiced his concerns about the potential misuse of artificial intelligence (AI), likening it to nuclear weapons in a recent shareholder meeting. Buffett's apprehensions stem from the increasing number of AI-driven scams, a phenomenon he finds deeply unsettling. He stated that the advancement of AI has reached a stage where it is becoming increasingly difficult to distinguish between what is real and what is fake. He humorously referred to scamming as the 'growth industry' of all time. Despite acknowledging his limited understanding of AI, Buffett has personally experienced the negative impacts of this technology. He recounted an incident where scammers used AI to create a convincing deepfake video of him to defraud someone. Buffett is not the only high-profile individual to have his identity misused by malicious actors. Ripple CEO Brad Garlinghouse has also reported instances of AI fraudsters using his identity to promote XRP scams. However, it's not all doom and gloom for AI. Many prominent executives, including JPMorgan CEO Jamie Dimon, have recognized the potential of AI technologies. Dimon recently compared AI to the steam engine, highlighting its transformative potential. AI is also being used to combat the very problem Buffett is concerned about. Microsoft, for instance, has introduced an authenticator tool capable of analyzing photos and videos to determine if they have been manipulated. Buffett, a well-known critic of Bitcoin, last year referred to the cryptocurrency as 'a gambling token.'