In his first annual meeting as Warren Buffett’s chosen successor, Greg Abel informed Berkshire Hathaway shareholders on Saturday that the company will only use artificial intelligence (AI) when it demonstrably improves results, rather than simply following the current trend.
During Berkshire Hathaway’s annual meeting in Omaha on May 2nd, Warren Buffett outlined a careful plan for expanding across the company’s various businesses, including insurance, railroads, energy, and manufacturing. While he discussed these areas, Buffett, who recently stepped down as CEO, didn’t offer any opinions on artificial intelligence.
Narrow AI, Not Hype
According to Abel, Berkshire Hathaway will only use artificial intelligence if it can demonstrably improve how things are done, make operations safer, or lead to better choices. He highlighted that their railroad, BNSF, is already using AI to streamline work, and their insurance businesses are employing it to detect fraud and fake content.
The meeting began with a video of Warren Buffett created using AI, which Greg Abel explained is a key risk Berkshire Hathaway deals with constantly.
“It has to be additive to our businesses. We’re not going to do AI for the sake of AI,” he said.
This perspective reinforces Buffett’s consistent caution regarding unestablished technology trends, especially when compared to other companies that are either laying off employees or focusing their efforts on artificial intelligence.
Energy Unit Positioned for Data-Center Boom
Berkshire Hathaway Energy saw the strongest growth, particularly due to data centers. In areas like Iowa, these data centers already use around 8% of total peak electricity, which is higher than the typical industry range of 5% to 10%, according to Abel.
He predicted the business would grow by 50% in the next five years, driven by strong demand from large tech companies building the infrastructure for artificial intelligence.
Abel argued that the companies responsible should cover all the expenses, protecting homeowners and businesses from having to pay for the increased demand.
This move gives Berkshire a clear benefit from the growth of AI without requiring them to overpay for software companies – a strategy that aligns with the current leadership’s approach.
How well Abel maintains cost control as utilities invest more in AI technology will be a key measure of his success in his first year as leader.
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2026-05-03 06:56