Warren Buffet Says AI Could Be The Next Big Growth Industry
Highlights
- Warren Buffet says AI scamming is the next big growth industry.
- The statement comes at the company’s annual shareholders meeting.
- Bitcoin stands above Meta and Berkshire Hathaway in market capitalization.
Berkshire Hathaway’s Warren Buffett has made several statements at the company’s annual shareholders meeting. The dubbed Oracle of Omaha has taken on Artificial Intelligence (AI), succession talks, and why the company reduced its stake in Apple.
According to Warren Buffet, AI has evolved into the next biggest growth industry although it could be used in the wrong hands likening it to nuclear weapons. He noted that AI scamming is soaring for a potential change due to the latest trends.
He stated that he doesn’t know much about the technology but had a recent encounter with an AI-generated image of himself. Warren Buffet described a daughter asking their parents for money as very believable.
“I mean, scamming has always been part of the American scene, but this would make me, if I was interested in investing in scamming, it’s going to be the growth industry of all time,” he told a crowd of investors at Berkshire’s annual meeting.”
Warren Buffet Compares AI to Nukes
Furthermore, Warren Buffet compared the development of AI to a genie let out of the bottle like the start of nuclear weapons. “I said we let the genie out of the bottle when we developed nuclear weapons and that genie has been doing some terrible things lately, and the power of that genie is what, you know, scares the hell out of me,” he added.
In recent times, several executives have spoken on the potential of AI utilized for public good as well as warnings on risks posed on a large scale.
Bitcoin Still Stands Above Berkshire Hathaway
The recent growing adoption of Bitcoin (BTC) has increased its market capitalization among top firms like Meta and Berkshire Hathaway. Bitcoin’s market capitalization stands at $1.25 trillion, with its price above $63,500.
On the other hand, Berkshire Hathaway has a share price of $400.87 and a $867 billion market capitalization. Warren Buffet has been a long-term critic of Bitcoin.
Also Read: Charles Hoskinson Teases Cardano and Bitcoin Cash Partnership
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
