Billionaire investor Warren Buffett has sounded the alarm on artificial intelligence (AI), likening it to the atomic bomb and warning of its potential to amplify fraud and scams on a massive scale. Speaking to Berkshire Hathaway shareholders, Buffett cautioned that AI could be the next "growth industry" for scammers, making it easier to create convincing fake videos and trick people into sending money overseas.

Buffett compared the development of AI to the creation of nuclear weapons, saying that both have the potential to cause immense harm. "We let the genie out of the bottle when we developed nuclear weapons, and that genie has been doing some terrible things lately," he said. "The power of that genie scares the hell out of me."

This is not the first time Buffett has expressed concerns about AI. Last year, he raised similar warnings, comparing AI development to the creation of an atomic bomb. Other Wall Street executives and tech CEOs have also voiced concerns about the rapid development of AI, but Buffett's comparison to nuclear technology is particularly stark.

Despite his warnings, Buffett acknowledges that AI has the potential to do great things. However, he is worried about its ability to change everything in the world except how men think and behave. "With AI, it can change everything in the world, except how men think and behave, and that's a big step to take," he said.

Buffett's concerns about AI are not new. He has long been opposed to nuclear weapons and has compared their impact to that of AI, saying it could be a more urgent threat than climate change. His warnings are a reminder that the development of AI must be done responsibly and with caution.