Artificial intelligence (AI) is a game-changing technology that could have a greater impact on the economy than the internet or the smartphone. Generative AI's ability to generate text, images, videos, and even computer code could drive a productivity boom unlike anything businesses have ever seen. 

Investors are excited. They have sent AI stocks like Nvidia soaring this year, but one investing titan is saying maybe it's time to pump the brakes.

Charlie Munger is the vice chairman of the Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) investment company, and he has worked alongside the legendary Warren Buffett since the 1970s. At a recent conference, Munger reportedly said AI is getting a "huge amount of hype ...  probably more than it deserves." He noted that AI has been around for a long time, and he expressed skepticism about the technology's ability to achieve monumental things like, for instance, curing cancer in the near term.

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Source Fool.com