Buffett's Take On Generative AI - another genie's out of the bottle
Tags: technology, generativeai, warrenbuffet, ai
Published: 2024-05-11 01:51:35

---
title: Buffett's Take On Generative AI - another genie's out of the bottle
published: true
description: Explore the highlights of Berkshire's 2024 shareholder meeting, as I delve into Warren Buffett's timeless life advice and thought-provoking views on the potential impact of generative AI. Join me in my reflections on four hours of wisdom-packed discourse.
tags: #technology #GenerativeAI #warrenbuffet #AI 

# Use a ratio of 100:42 for best results.
# published_at: 2024-05-10 18:38 +0000
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If you know me, you know it's pretty rare for any single event to keep my attention locked for five minutes, let alone for four hours straight. Yet year after year, I make an exception for the annual Berkshire Hathaway shareholders meeting.

Maybe it's the chance to hear an investing legend's unfiltered words of wisdom. Or maybe it's the profound sense of gratitude that fills me, realizing the privilege of witnessing Warren Buffett's genius during my own lifetime. 

What's most bewildering, though, is how this incredible fount of financial wisdom and life lessons is available for anyone in the world to tap into for free, just by having an internet connection.

It makes me wonder - could generative AI one day democratize knowledge creation and dissemination in the same transformative way the internet democratized access to information?

As he effortlessly fields questions from the audience, his charismatic humor and personable demeanor only add to the experience. In all of this, there's a valuable leadership lesson too. There might be a future article coming solely focusing on that topic.

Meanwhile, Warren Buffett soberly warns about the "genie" of artificial intelligence that has been unleashed upon the world. He described his experience of being introduced to his own deepfake version, commenting that neither his wife nor children would be able to distinguish between the fake and the real. The 93-year-old investing legend drew parallels between today's transformative AI boom and the 20th century's harnessing of nuclear power - a breakthrough technology holding boundless potential for benefiting humanity, but also grave risks if not carefully constrained. Just as nuclear gave us the terrible weapons we've seen, it gave us also nuclear energy plants that can power entire cities for decades. AI is a disruptive force that can create abundance or scarcity depending on how it is developed and governed.

I felt a sense of relief hearing Buffett's viewpoint. I had feared he might default to the typical 'Invest Only in What You Truly Understand' mantra and not say anything beyond that. 
His commitment to his 'circle of competence' philosophy led him to steer clear of highly successful tech giants like Google and Microsoft in their early stages, despite acknowledging their innovative offerings. Generative AI transcends the dot-com bubble and traditional internet realms; and it really needed some cautionary commentary.

![electricity_bulb](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/zva41uy2jcpkmbb5k77r.jpg)
 
Generative AI pervasive influence parallels the advent of electricity in the 19th and 20th centuries. However, unlike electricity, its potential for harm is exponentially greater. While electricity itself isn't inherently dangerous, mishandling it can lead to severe consequences, including shocks, fires, and accidents. Guardrails must be established to mitigate these risks, encompassing proper installation, maintenance, and usage of electrical systems and equipment. By implementing stringent safety measures, we can navigate the transformative power of generative AI responsibly and avert potential hazards. Yet, is this analogy too simplistic perhaps? It overlooks the unsettling reality that generative AI is often likened to a mysterious black box, its capabilities and consequences not fully known nor understood. As it operates on vast computational power, resembling AGI more closely with each advancement, could it potentially run wild, completely unchecked?

So yes, it's reassuring to me that Buffett voiced existential concerns about the potential for advanced AI systems to pursue goals and objectives that may conflict with human ethics and values. I found Buffett's stance reflects Berkshire's enduring culture of integrity and values, emphasizing a unique approach to investing rooted in long-term and responsible stewardship.

As I watch Buffett's teachings stream directly to my device, I can't help but feel immensely fortunate to live in an era where invaluable insights from one of history's most successful investors are so accessible and uncapped. It's both humbling and empowering. However, will I be able to say the same about the technological advancements in 10 years from now?