Bitcoin Critic Charlie Munger Calls AI Overhyped

Charlie Munger, the billionaire Vice President of Berkshire Hathaway appears to be unfazed about the growing buzz around Artificial Intelligence (AI).

Charlie Munger on Current AI Hype

Speaking at the recently concluded Zoomtopia Conference organized by Zoom Communications Plc, Charlie Munger said AI appears to be getting more attention than it currently deserves. 

Artificial Intelligence is another majorly trending technology in our world today with the new generation hype sparked by OpenAI’s ChatGPT. As a chatbot with the capability to answer users’ inquiries with a high degree of accuracy, ChatGPT gained more than 100 million users within the first few weeks it was launched, a development that showcased just how revolutionary it is.

Besides ChatGPT, we have also seen other top applications like Bard, and MidJourney amongst others. 

There are a number of other AI innovations that are currently serving individuals in the digital ecosystem with top tech giants like Microsoft, and Google investing billions of dollars to catch on the moving train. However, to Charlie Munger, the AI’s breakthroughs appear to be “exaggerated” even though he acknowledges its inherent potential.

While many top tech leaders seem to disagree with this position, one thing some seem aligned with remains the need to provide the right frameworks for the technology so as to drive its responsible usage overall.

Bitcoin Remains Bashed

Charlie Munger is unrelenting in calling out Bitcoin as he has done for many years now. As the closest ally to Warren Buffet, he took the opportunity to also call out Bitcoin as one of the most worthless investments he has ever seen.

“Don’t get me started on Bitcoins — that was the stupidest investment I ever saw,” he said in a statement.

New technologies have always been a subject of controversy especially when their core ideas are a threat to legacy institutions. While AI has different representations in terms of how it is applied, Bitcoin is an asset with an actual value that has surpassed most traditional financial assets around today.

Irrespective of their inherent value, it appears that Bitcoin, cryptocurrencies, and AI will be receiving much more backlash from respected investors.