Warren Buffett knows a lot about a lot. He's an expert on the insurance industry thanks in part to Berkshire Hathaway's ownership of GEICO and General Re. The legendary investor has researched the banking industry thoroughly. He is very familiar with the ins and outs of energy companies (otherwise, he wouldn't be investing so heavily in Occidental Petroleum).

But Buffett would be the first to admit that he doesn't know everything. One area he definitely doesn't understand is artificial intelligence (AI). But AI could soon make the legendary investor a boatload of money.

Microsoft co-founder Bill Gates showed OpenAI's ChatGPT to Buffett in 2023. Buffett was astounded by what the AI model could do. However, he told CNBC, "I think it's something I don't understand at all."

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Source Fool.com