Bitcoin Hater Charlie Munger Slams AI Tech: Details

Charlie Munger, the Vice President of Berkshire Hathaway and a highly regarded figure in the financial realm, has raised doubts about the hype surrounding Artificial Intelligence (AI) and emphasized the importance of responsible development. 

Charlie Munger Talks AI

As per the recent report, Munger delved into the present status of AI and voiced certain concerns regarding its increasing significance while speaking at the Zoomtopia Conference. 

‘Overhyped’

In a world where leading tech titans like Microsoft and Google are pouring significant resources into AI research and development, Munger maintains a somewhat divergent perspective, proposing that the advancements in AI may be excessively exaggerated.

Munger’s perspective suggests that AI’s advancements are somewhat “overhyped,” although he does recognize its inherent potential. 

Charlie Munger on Bitcoin

In addition to Artificial Intelligence, he has expressed skepticism regarding Bitcoin. Munger continues to adamantly criticize Bitcoin, a stance he has upheld for several years. He characterized Bitcoin as one of the most dubious investment choices he has ever seen, a perspective he has upheld for an extended period. 

He stated: “Don’t get me started on Bitcoins — that was the stupidest investment I ever saw.”

Even though Bitcoin holds intrinsic worth, it seems that both cryptocurrencies and AI are drawing scrutiny from esteemed investors. 

Consequently, many prominent tech leaders may not share his exact viewpoint but they do seem to agree on the necessity of establishing appropriate frameworks for AI to promote responsible and ethical usage of the technology as a whole. 

AI Adoption on the Rise

In July, the Microsoft-backed artificial intelligence (AI) startup OpenAI eagerly unveiled the Android version of the ChatGPT app to users. In June, blockchain security and analytics startup Elliptic made an announcement about integrating ChatGPT into its off-chain intelligence and research operations. In May, Conor Grogan, an executive at the American cryptocurrency exchange Coinbase, opted to employ ChatGPT as a predictive solution.