May 6, 2024 Warren Buffett, the renowned investor, warned shareholders at his annual meeting in Omaha, Nebraska, about the potential dangers of artificial intelligence (AI) being misused by scammers. Buffett, who recently encountered a fake video of himself created using AI, expressed concerns that scammers might exploit this technology more effectively than society can use it for good.

Buffett, known as the “Oracle of Omaha,” faced a convincing fake video of himself that could potentially trick him into sending money overseas. He cautioned that AI scams could become “the growth industry of all time,” noting the technology’s potential for both significant benefits and harm.

Despite acknowledging that he doesn’t fully understand AI, Buffett emphasized its dual potential. He believes AI could be used for positive purposes, but he is equally concerned about its potential for harm, especially when it comes to scams.

Buffett’s warning comes as AI-generated deepfakes and other scams are becoming more sophisticated and harder to detect. The billionaire’s prediction highlights the need for society to address the challenges and threats posed by AI, particularly in the context of scams and misinformation.

Note: Today’s podcast Hashtag Trending has more on deep fake voices and the issues relating to them. You can find the podcast on the home page or under “Podcasts” on the top menu.