Warren Buffett Says Artificial Intelligence Will ‘Hurt’ Berkshire Hathaway’s Business

The legendary stock-picker has famously shunned smartphones, and until recently did not invest in tech companies (though that may be changing).

At the Berkshire Hathaway annual meeting in Omaha Saturday, Buffett said that advances in artificial intelligence have forced him to consider the impact the technology could have on his businesses, and it's not good. Self-driving cars alone could be a double whammy to Berkshire Hathaway, hurting it in more than one industry in which it competes.

"I would say that driverless trucks are a lot more of a threat than an opportunity," not just to Berkshire's railroad business, but also to its insurance business, Buffett said at the shareholder meeting. "Both of those, autonomous vehicles, widespread, would hurt us."

15. Mai 2017

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