Buffett, Munger Skeptical Of AI: 'Old Fashioned Intelligence Works Pretty Well'

At Berkshire Hathaway, Inc.'s BRK BRK annual shareholder meeting on Saturday in Omaha, Nebraska, investment gurus Warren Buffett and Charlie Munger shared their thoughts on the pros and cons of artificial intelligence.

Munger, who introduced Buffett to Chinese electric vehicle maker BYD Manufacturing Company Limited BYDDY BYDDF, noted that, at BYD's factories, robotics is used at an unbelievable rate, according to CNBC. "We're going to see a lot more robotics in the world," he added.

The Berkshire vice chairman, however, said he is personally skeptical of the hype around AI. "I think old-fashioned intelligence works pretty well," he said.

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Buffett chimed in and said he believes “there won't be anything in AI that replaces the gene.” He also noted that his good friend Bill Gates had shown him ChatGPT, referring to GPT language model that Microsoft licenses from OpenAI.

"If something can do all kinds of things, I get a little worried," Buffett said, adding that "we won't be able to uninvent it."

The “Oracle of Omaha” warned of AI's impact by making an analogy between the technology and the atomic bomb, wondering aloud whether the invention of the atomic bomb would be “good for the next 200 years of the world that the ability to do so has been unleashed.”

"With AI, you can change everything in the world, except how men think of the AI, and that is a big step to take," he said.

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