Here is a small example.
\documentclass{beamer}
\usepackage{multicol}
\usepackage{lipsum}
\setlipsumdefault{1-1}
\begin{document}
\begin{frame}
\tiny
\lipsum
\begin{multicols*}{2}
\lipsum
\end{multicols*}{1}
\lipsum
\end{frame}
\end{document}
It works nicely, but I still get a warning:
Package multicol Warning: multicols* inside a box does not make sense.
(multicol) Going to balance anyway on input line 13.
DO I so something wrong here? Is there a correct way for using the package with beamer? What other options does one have for having text flow from one column to another in beamer?

To make this clearer, I provide another example, in which it seems very natural to use multicols rather than the manual division of text into columns:
\documentclass{beamer}
\usepackage{multicol}\columnseprule 0.4pt\raggedcolumns
\begin{document} \begin{frame}
The main programming paradigms are:
\begin{multicols*}{2}
\begin{itemize}
\item Imperative
\item Object Oriented
\item Functional
\item Logical
\item Aspect Oriented
\item Constraints
\item Parallel
\end{itemize}
\end{multicols*}
However, there are many multi-paradigm programming languages.
\begin{multicols*}{2}
\begin{itemize}
\item Mathematica
\item Oz
\item F\#
\item Visula Basic.Net
\item C\#
\item Scala
\item Object Pascal
\end{itemize}
\end{multicols*}
\end{frame}\end{document}
And the output is
beameris based around Till's idea of a good presentation. – Joseph Wright Jan 01 '14 at 20:07lipsumcannot produce just little text. Sometimes however I have an itemized list, which I would like to present in two columns, without the need to balance the columns myself. – Yossi Gil Jan 01 '14 at 20:20multicols*in a beamer frame for the reason expressed in the warning: the contents is typeset in a box. – egreg Jan 01 '14 at 20:29