Charlie Munger says artificial intelligence is filled with “crazy hype” and won’t cure cancer, but his Daily Journal newspaper chain is experimenting with AI for writing articles.

  • According to Charlie Munger, artificial intelligence is important, but it is also filled with hype.
  • “Artificial intelligence will not cure cancer,” he said. “He’s not going to do whatever we want.”
  • But his newspaper company, the Daily Journal, is experimenting with AI for writing articles.

Billionaire investor Charlie Munger said on Wednesday that artificial intelligence is important, but it’s also filled with hype.

During a Q&A session at the Daily Journal annual meeting, he was asked about the explosion of interest in AI since the launch of OpenAI’s ChatGPT.

“AI is very important, but there is a lot of crazy hype about it,” said Munger, who is also a business partner with Warren Buffett and vice chairman of Berkshire Hathaway. “Artificial intelligence will not cure cancer. He won’t do whatever we want.”

He added that “a lot of nonsense” interferes with the broader conversation about AI. “I regard it as a mixed blessing, all this artificial intelligence.”

Munger noted that people tried to use AI for insurance underwriting and for buying an office building, but they doubted it would help much.

However, Munger’s publication, the Daily Journal, began experimenting with artificial intelligence for article writing last summer, according to an executive who spoke with Munger, adding that its use for more complex tasks is still a long way off.

Munger later appears to have mentioned the advent of the Internet when he was reflecting on the impact of AI on the news business.

“We had a big setback where technology was seriously, adversely affecting our publishing business,” he said. “And we have an opportunity in this new business. But it’s just long and hard work.”

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