Superstar investor Warren Buffett recently sat down with the team at CNBC Squawk Box to discuss all the latest trending in the world of finance. The conversation touched on the biggest events of 2023 so far, including China, Bitcoin, and the Norfolk Southern train derailment.
One of the juiciest topics discussed was the rise of artificial intelligence (AI) technology like ChatGPT. “I think it's something I don't understand at all,” Buffett admitted. But he gets by with a little help from his friends -- more specifically, Microsoft (MSFT) founder and tech magnate Bill Gates.
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“But Bill did come by about […] and [said] ‘I’m gonna show you what can be done.’” He tells co-anchor Andrew Ross Sorkin, who asked about Gates, that he asked AI to rewrite the Frank Sinatra classic “My Way” in Spanish.
“Two seconds later[…] it comes out in rhymes and does all these wonderful things,” Buffett chuckles. “[But Bill] said ‘[it] can't tell jokes,’ which I thought was very interesting.”
“But it's read every book, every legal opinion. I mean, the amount of time it could save you […] is unbelievable.”
Still, Buffett is apprehensive.
“I said [to Bill] ‘just let me know what I can ask it.’” And according to Buffett, he also asked his friend, “How are you [using AI] going to ruin the human race?” He laughs, then continues. “Let me know, [and I’ll have someone] unplug it.”
Still, in the end, Buffett believes that it’s “an incredible technological advance. “[Bill] just says it scares him, well[…] it scares me in terms of the possibilities.” He compares it to the development of the atom bomb, recalling a time when Albert Einstein said the latter would “change the world”.
“I don't want to change the world too many times without having some idea of the consequences,” says Buffett.
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