Years before ChatGPT, Warren Buffett touted AI's huge potential but warned it could spark job losses and stoke political tensions
Ultimately, a frenzy of activity around AI could lead to more-productive machines replacing workers and stoking political tensions, at least in Buffett's view.
The Berkshire chief explained that with widespread automation, people could work fewer hours a week but still produce the same amount of goods and services in the US. Companies could end up employing fewer workers, or people could have more time for leisure, he said. "That's enormously prosocial, eventually. It's enormously disruptive in other ways. And it can have huge problems, in terms of a democracy and how it reacts to that," he added."I would think the biggest value will come when it actually replaces human labor," he said about AI."That is quantifiable, and machines don't come around annually and ask for wage increases, and they don't need healthcare.
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