Buffett emits a skeptical note about AI

Berkshire Hathaway’s CEO, Warren Buffett, and his senior insurance executive, Ajit Jain, published a slightly skeptical note on artificial intelligence and their impact on the insurance business.

“There is no question in my mind that AI will be a real game changer and will change a way to evaluate the risk, risk of prices, we are risk and then the way we end up paying claims,” ​​said Jain. “That said, I also surely think that people end up spending a huge amount of money trying to pursue the next new fashion.

“So right now, individual insurance operations are performed in the AI ​​and try to find out what is the best way to explode,” but we have not yet made a great effort in terms of collecting a lot of money on this opportunity, “said Jain. “I guess we will be in a state of preparation. And if this opportunity appears, we will be in a state where we will jump quickly.”