There’s more to the Allen & Co annual Sun Valley mogul gathering than talk about potential media deals: The industry’s corporate elite spent this morning listening to a panel about advances in artificial intelligence, following sessions yesterday dealing with education, biotech and gene splicing, and the status of Middle East.

Netscape co-founder Marc Andreessen led the AI session with LinkedIn’s Reid Hoffman and  Y Combinator’s Sam Altman. The main themes: AI will affect lots of businesses, and it’s coming quickly.

“Of course they’re going to be high on it,” one attendee says. “They’re going to be investing in it.”

Yesterday’s sessions included one with former CIA director George Tenant who spoke about the Middle East and terrorism with New York Police Department Deputy Commissioner of Intelligence & Counter-terrorism John Miller and a former chief of Israeli intelligence agency Mossad.

“It seems like the same old situation every year,” the attendee says.

The session on biotech and gene splicing got higher marks. Investors are high on the field, which involves using living organisms to make products including drugs or insect-resistant crops. Some believe it could lead to cures for cancer and other maladies.