Billionaire investor who predicted Black Monday has gone further than Robert Peston AI warning

Just when you thought the AI debate couldn't get any more worrying, another bloke who seems able to predict the future has entered the chat.

Paul Tudor Jones, the man who predicted the Black Monday stock market crash of 1987, has issued a warning that goes even further than Robert Peston's recent concerns.

In case you missed it, Peston, a journalist with a heap of eerily accurate predictions under his belt including the Coronavirus pandemic and the 2008 financial crash, has issued a warning that artificial intelligence could displace an 'incredibly large numbers of jobs'.

But hedge fund manager Paul Tudor Jones has shared his own cheery AI predictions, and they go quite a bit further.

ITV's political editor Robert Peston is worried about AI. (X/Peston)

The man who correctly called one of the biggest financial crashes in history is now warning that AI could become one of the defining challenges of the future.

In an essay for TIME, titled ‘AI Rings Every One Of My Alarm Bells’, Jones warned that AI could likely pose some serious risks to society if it keeps advancing without the right safeguards in place.

The billionaire investor argued that while AI has the potential to do incredible things, there are some pretty big problems to figure out first, including how to stop powerful systems being misused and how humans keep control as the technology becomes more advanced.

Jones worried about AI making it easier to create convincing fake information, as realistic fake images, videos and information become easier to create.

It's not long until humans pass the baton of employment over the artificial intelligence, Paul Tudor Jones warned. (Michael Ostuni/Patrick McMullan via Getty Images)

While Peston warned us about the impact AI could have on our jobs and the wider economy, Jones' concerns stretch into a much wider question: what happens if the technology becomes more powerful than society is prepared for?

But despite those 'alarm bells', Jones is not writing off AI as a technology to avoid.

In fact, he's so sure the technology could become one of the biggest forces shaping the future that he’s putting his money behind it.

The billionaire recently revealed to CNBC that he bought more AI stocks, arguing that the technology is still nowhere near reaching its full potential.

So, yes, the man warning that AI could create major problems is also betting on it becoming even bigger.

But for Jones, backing AI financially does not mean ignoring the dangers that come with it.

Rather, he expects the race to develop AI is already well underway, and the biggest challenge will be making sure humans can stay in control of where it goes next.