Warren Buffett warned shareholders at his annual meeting that artificial intelligence (AI) scams could become the "growth industry of all time. " Buffett shared his firsthand experience with a fake video of himself created using AI technology, acknowledging that scammers could potentially cause more harm than society can handle with this technology. Despite the drop in earnings due to the decline in the value of its investment portfolio, Berkshire Hathaway's operating earnings from its owned companies increased significantly. The meeting also paid tribute to former Vice Chairman Charlie Munger, highlighting his contributions to Berkshire Hathaway's success.
Berkshire Hathaway executives Ajit Jain and Greg Abel shared the stage with Buffett, with Abel standing out and being seen as a potential successor. Buffett expressed confidence in Abel's understanding of business and recommended him for the CEO position. Overall, Buffett emphasized the effectiveness of Berkshire Hathaway's current management structure and expressed hope for his and shareholders' presence in the next year's meeting.
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The Chicago Tribune has filed a lawsuit against Perplexity AI, an AI-powered answer engine, accusing the company of unlawfully distributing the Tribune’s journalism content and diverting web traffic from the Tribune’s platforms.
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