Buffett and other famous investors such as Peter Lynch spent many hours reading corporate annual reports. I wonder if that is still a good use of time today or

Buffett and other famous investors such as Peter Lynch spent many hours reading corporate annual reports. I wonder if that is still a good use of time today or if one should work on NLP that reads corporate reports, analyst reports, listens to conference calls, and evaluates the data. Then, what the person reads is machine learning research applied to finance rather than the primary materials read by Buffett and Lynch.