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 to write articles

• Artificial intelligence is important but has also been filled with hype, according to Charlie Munger.
• "Artificial intelligence is not going to cure cancer," he said. "It's not going to do everything that we want done."

Billionaire investor Charlie Munger said Wednesday that artificial intelligence is important but has also been filled with hype.

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

"Artificial intelligence is very important, but there's a lot of crazy hype on the subject," said Munger, who is also Warren Buffett's business partner and the vice-chairman of Berkshire Hathaway. "Artificial intelligence is not going to cure cancer. It's not going to do everything that we want done."

He added that "there's a lot of nonsense" that gets thrown in with the broader conversation around AI. "I regard it as a mixed blessing, all this artificial intelligence."

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

Still, Munger's media outlet, the Daily Journal, began experimenting with artificial intelligence last summer for writing of articles, according to an executive speaking alongside Munger, adding that its use for more complex tasks is further away.

Munger later appeared to refer to the advent of the internet as he pondered the impact that AI might have on the news business.

"We had our big disruption when technology severely, adversely affected our publishing business," he said. "And we have our opportunity in this new business. But it's just a long tough slog."