Warren Buffett, a renowned value investor, admitted he knows nothing about AI, but thanks to Bill Gates, he tried his hand at the popular chatbot ChatGPT.
“Bill did come by at least four or five months ago, but I think it’s something I don’t understand at all. ‘I’m going to show you the newest thing and what can be done with that,’ he continued. In fact, I told them to write “My Way” in Spanish, Buffett stated on “Squawk Box” on CNBC on Wednesday from Tokyo. “Two seconds later, you know, it comes out, and it comes out that rhymes and does all these wonderful things.”
The chairman and CEO of Berkshire Hathaway have spent decades convincing shareholders that technology is outside of his area of expertise. The “Oracle of Omaha,” who had previously shunned computer companies, was persuaded to invest in Apple by his lieutenants in finance, and the tech behemoth has since become one of his greatest and most lucrative bets in his career.
Microsoft is placing a huge stake in ChatGPT, an AI chatbot created by San Francisco-based startup OpenAI. The program has the ability to process written input from users and generate responses that resemble those of humans.
Buffett recalls Gates remarking that ChatGPT’s inability to crack jokes is one of its drawbacks.
It simply isn’t funny, but it can tell you that it has read every book and legal opinion. If you were doing a variety of tasks, the amount of time it could save you is incredible, Buffett added.
The 92-year-old investor concluded by saying he doesn’t know whether the advancement of technology is good for the human race.
According to Buffet, it represents an amazing technological development in terms of what it can accomplish. “I find this to be extraordinary, but I’m not sure if it’s helpful.”
The technology has raised questions about possible abuses. For instance, while hackers are trying ChatGPT to create dangerous code, students have used it to construct whole articles.
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For more than three decades, Gates and Buffett have been close friends. The Giving Pledge, which calls on the richest people in the world to donate at least half of their money to charitable causes, was formed by the two.