At Berkshire Hathaway's annual shareholders meeting, CEO Warren Buffet is speaking about the development of artificial intelligence.

Warren Buffett of Berkshire Hathaway has spoken at the company's annual shareholders meeting on a number of occasions.

The so-called Oracle of Omaha has discussed succession planning, artificial intelligence (AI), and the reasons behind the company's Apple stock reduction.

Warren Buffet claims that artificial intelligence (AI) is poised to become the next great enterprise, despite the fact that improper application might equate it to the use of nuclear weapons.

He pointed out that the most recent trends are driving up AI scamming as a possible change.

Although he claimed to know little about the technology, he did mention that he recently came across an AI-generated image of himself. Warren Buffet spoke of a daughter who inquired 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 Continues to Outperform Berkshire Hathaway

The market valuation of Bitcoin (BTC) has expanded among leading companies such as Berkshire Hathaway and Meta due to its recent expanding usage.

The market capitalization of Bitcoin is $1.25 trillion, and its price is currently above $63,500.

In contrast, Berkshire Hathaway's market capitalization is $867 billion, with a share price of $400.87. For a long time, Warren Buffet has been an opponent of Bitcoin.