So How Do We Handle The Impact of Artificial Intelligence? My Opinion on Warren Buffett's Insights - On Ecency

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Greetings to everyone on Ecency and all other platforms of Hive.

I'm here to share some really interesting thoughts on one of the most powerful not so very new technology in the world; Artificial Intelligence.

I have been thinking a lot lately about Artificial Intelligence (AI). Recently, I came across an article about Warren Buffet’s views on AI and its impact on the future. I did more research and there was apparently an interview or conference held I believe last week where Warren Buffett spoke on his views about Artificial Intelligence.

As a person who is interested in how technology affects our lives, these remarks of Buffett caught my eye.

Buffet, the CEO of Berkshire Hathaway, one of the richest men in the world and an investor famously admitted that he was not conversant with AI.

Well to be honest based on some of the things I learned from @taskmaster4450le video about Warren Buffett and the way he's usually not interested in investing into technology,. I would agree that he's not too conversant with Artificial Intelligence.

He prefers to invest in what he knows a lot about and that's one of his solid principles.

However, at the Berkshire Hathaway annual meeting, even him couldn’t avoid saying something about AI.

Buffett mentioned that one of the potential things to happen through AI is people having more time for leisure activities. Now I’m wondering: if indeed this happens and we get freed by artificial intelligence to have so much extra time how will people spend it? We will relax or do what we like best? Or shall we be idle thus become bored? From my point of view, l really enjoy being busy and having some tasks to do; therefore, I can relate to Buffett’s perspective.

He also mentioned another point that AI might enhance productivity rates. He mentioned John Maynard Keynes, a notable economist who predicted that advancement in technology would make it possible to reach higher productivity levels. However, Keynes failed to predict how people would utilize the increased productivity.

This is an interesting point. We often discuss the advantages of increasing productivity but rarely examine how it touches us intimately. Does this mean we will be able to work less and have more leisure or will we find ourselves working as hard as before?

Furthermore, Buffett highlighted another aspect of AI; its possibility of replacing human labour force. While some claim that AI will provide other employment opportunities, others worry about widespread joblessness due to the same.

Concerning me also is the same. Artificial Intelligence (AI) on one side is capable of easing our lives and on the other hand it may lead to loss of jobs for people who depend on them to feed their families. It is a complex situation with no easy way out.

One proposition that has been put forward is the concept of universal basic income (UBI). In this case, everyone would be given a certain amount of money at regular intervals irrespective of whether they have any job or not. On one hand, this could help deal with some of the problems arising from AI-based joblessness, but on another note, it raises issues related to justice and sustainability.

My general belief is that AI could potentially contribute to making positive and negative changes in our community.

AI is one of the most advanced technologies of the modern era and it's no surprise there that it would have both positive and negative impacts on our lives since that's how most technology has been.

I believe it's very important that we consider what direction to take with this kind of technology and its impact on individuals and society as a whole.

Let me share some Videos of Warren Buffett speaking about Artificial Intelligence

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In summary, Warren Buffett’s remarks about AI have really made me think. There are some benefits which I believe can come out of this technology, but there are also some risks involved in it. We need to take the subject with care because it’s quite complicated.

As we move ahead into a more AI-driven world, it is crucial that we take note of how this technology will affect us.

By critically thinking about AI and what its probable consequences might be, we can strive to make sure that it benefits all and sundry instead of just a few.

It is my belief that if we reflect well on our decisions and plan carefully, we can utilize the power of artificial intelligence to build a much better and prosperous world for all.