
AI is Wall Street's most recent wave of capital, with billions of dollars being poured into the sector this year. There's one big-name investor who doesn't fully believe in the gold rush: Charlie Munger.
Munger, who is 90,9 years old, is the vice chairman of Berkshire Hathaway, a big investment conglomerate owned by Warren Buffett. Buffett has spent nearly five decades as its right-hand man, helping the firm to become one of the world's biggest companies.
Munger was asked for his opinion on AI, which many investors see as the next big thing.
The idea of artificial intelligence has existed for some time, he said, and its roots can be traced back to the 1950s.
Munger admitted that breakthroughs in the AI space are'very important', but has previously indicated that he's something of a cynic when it comes to technology.
He's also been against the grain when it comes to predictions that AI could create major innovations that lead to some kind of utopia, where living to 100 becomes the norm and diseases like cancer are eradicated.
Likewise, Buffett has labeled chatbot chatbot ChatGPT in particular'something I don't understand,' and questioned whether it will have a negative impact on society.
Munger was also asked to speak at Zoom's event on Thursday about his outlook for Bitcoin and other cryptocurrencies.
With more than $200 billion wiped off the market in just a single day, experts forecast the phenomenon- which saw many crypto investors' life savings wiped out overnight-could last through 2023 and possibly into 2024.
Bitcoin has regained from last year's lowest point, but at today's price of just under $28,000, the digital token is still far from its record-breaking level of nearly $69,000.