""We're not going to do AI for the sake of AI," Abel said, adding that the tech has to be "additive to our businesses.""
"The likes of 'Shark Tank' star Kevin O'Leary and fund manager Ross Gerber have dismissed comparisons to the dot-com bubble, telling Business Insider that the tech is driving measurable productivity gains and generating enormous growth in profits."
"In contrast, Michael Burry of 'The Big Short' fame and veteran investor Jeremy Grantham have warned that AI is a bubble of historic proportions that's bound to burst with devastating effect."
Warren Buffett's investment strategy emphasizes staying within a 'circle of competence' and avoiding trends. Greg Abel, Berkshire Hathaway's new CEO, echoed this sentiment at a shareholder meeting, stating the company would not invest in AI for its own sake. Instead, AI will be used prudently where it adds value. While some CEOs express optimism about AI's efficiency benefits, opinions in the investment community are divided, with some viewing AI as a bubble that could burst.
Read at www.businessinsider.com
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