American businessman and investor Warren Buffett opines that in the future, fraudulent activities could develop into a full-fledged industry, based on his recent encounter with Artificial Intelligence, media reports said.

Recently, Warren Buffett encountered an AI-generated video of him speaking in his own voice, which even his family members couldn't discern as false.

Addressing attendees at Berkshire Hathway’s Annual Shareholding meeting, Buffett highlighted the immense potential of AI for both positive and negative impacts, asserting that its true societal influence will only become apparent over time.

“I had an experience that does make me a little nervous. Very recently, I saw an image in front of my eyes, on the screen. It was me and my voice, wearing the kind of clothes I wear, and my wife or daughter wouldn’t have been able to detect any difference. And I was delivering a message that no way came from me,” he said. “If I was interested in investing in scamming, it's going to be the growth industry of all time,” he quipped.

Buffett remarked that while Artificial Intelligence holds promise for beneficial applications, based on his recent encounter, that he might consider sending money to himself in another country.

He drew a comparison between AI and the historical development of nuclear weapons.

“We let a genie out of the bottle when we developed nuclear weapons, and that genie has been doing some terrible things lately. And the power of that genie scares the hell out of me. And under that, I don't know any way to get the genie back in the bottle,” he said.

He also said that he doesn't have any guidance on how the world should manage it, as he believes that the world has yet to effectively address the challenges posed by nuclear genie, which is an older.