Brief news summary

During the Berkshire Hathaway annual meeting, Warren Buffett discussed the uncertainties and potential consequences of artificial intelligence (AI). While admitting his limited knowledge on the subject, Buffett expressed concerns about the potential unintended consequences of AI and compared it to the release of nuclear weapons. One significant question raised by AI is its impact on human work and leisure time. Buffett highlighted the uncertainty of how people would utilize increased leisure time resulting from AI advancements, referencing John Maynard Keynes' inability to predict human behavior. The article delves into the slow adoption and productivity gains of AI, the need for companies to prepare for applications built on top of AI infrastructure, potential job losses, and the suggestion of a universal basic income. Buffett emphasized the importance of balancing technology's efficiency with the well-being of humans in labor-intensive companies like Berkshire Hathaway.