Buffett and Munger Voice Caution on AI Hype; Say Competitive Edge More Important than Societal Impact for Investors
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Buffett admits he doesn't understand AI, though is amazed by its capabilities. He hopes it doesn't destroy humanity.
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Buffett's late partner Charlie Munger was skeptical of the hype around AI, saying it won't cure cancer or do everything people claim.
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When it comes to new technologies, Buffett prefers to sit on the sidelines rather than invest right away.
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Buffett says determining a company's competitive advantage and durability of that advantage is key - not assessing societal impact.
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While AI tools may help investors analyze data, Buffett notes investment success depends on the unpredictable future.