Munger and Buffett's AI Skepticism
Charlie Munger, Warren Buffett's longtime business partner and Berkshire Hathaway's vice chairman since 1978, believes artificial intelligence (AI) is receiving more attention than it deserves. Speaking at the Zoomtopia conference, Munger mentioned, "There's an excessive amount of hype around AI. While it's certainly been useful for ages, it's not a recent phenomenon as some might believe."
The public's fascination with AI notably surged after OpenAI released ChatGPT in November 2022. This chatbot, capable of tasks ranging from essay-writing to song composition, amassed 100 million users in just over two months, marking a historic growth in the internet sphere.
However, this isn't the first time Munger has aired his skepticism. Earlier at the Daily Journal's annual gathering, he remarked, "AI is indeed significant, but the extravagant excitement is unwarranted. It isn't the solution to every problem we face." Yet, it was also revealed that the Daily Journal had dabbled in using AI for article creation in 2022.
Warren Buffett mirrors Munger's reservations. At a Berkshire Hathaway meeting, he stated, "AI can never replicate human genes," but acknowledged its vast capabilities, adding, "Its extensive potential is both intriguing and concerning, as we can't undo its creation."
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