As someone who has done some research on AI in the last 25 years I find this current iteration amazing.
25 years ago when I was just starting my Bachelor's degree, AI was in a sort of "hiatus". The "great" AI procedures were mostly rule based systems. We read about MYCIN and similar expert systems and how they could do amazing stuff. We also read about AI generating new strategies for Backgammon. That was amazing.
But during the 90s/2000s, nothing spectacular happened. We had some advances in neural networks, which were just an academic curiosity given their processing requirements. (I remember implementing a NN that could recognize vowels using C in school). We also had Genetic Algorithms, that were basically optimizers. We had some interesting implementations such as the Creatures game series and similar.
Then "Machine Learning" started gaining notoriety. Industry started using "Machine Learning" techniques to perform some types of forecasting. This came a bit later after "Data warehousing". I remember all the talk about hypercubes and that crap. And how Walmart would extract "knowledge" and place beer six-packs in the diapers aisle so that "dad" would impulse-buy beer when "mom" makes him go to buy diapers.
The ML time was an exciting time, and for some time mainstream thought that ML was AI ... but there were lots of other things cooking.
Now suddenly we have enough power to make non-trivial Neural Networks... and suddenly we have Deep Learning and these LLM with HUGE networks. And industry has just started looking at it. These are exciting times.
The other side of the coin is that during all these times, "mainstream" goal-post has been pushed and pushed for AI... what was AI in the 60s-70s (rule based systems like MyCIN), is not AI nowadays (they are just pattern matching, if-elses!! they say). What was AI in the 80s-90s (Genetic Algorithms, Multi-Agent systems) is not AI nowadays... and what was AI in the 2000-2010s (Random Forests, SVMs, AdaBoost) is no AI nowadays (just statistics!). But overall, it has been a very interesting subject to study.