AI isn't a bubble. Bubbles may form when enthusiasm and money gets ahead of progress, but in the end AI will deliver just like the internet.
It's easy to see how many current AI companies could end up being dud investments, even if they produce good models
And everyone knows there was no internet bubble. No period of proliferation of available venture capital, rapid growth of valuations followed by all gains being lost.
Nah, it will deliver on some of those promises but there is definitely zero chance that it will deliver on all of them (maybe even most of them), but this also isn't how bubbles form.
The Internet delivered 5 trillion dollar companies. It was also a bubble that popped in 2002. For every Google or Amazon there are a dozen Nortel's and Webvan's.
AI is a bubble in the sense there isn't a direct path of put more money into research and get a better result. I'd almost argue we are spending money in the wrong areas.
The internet had clear and well defined steps for improvement. Although we can increase accuracy or whatever by 1-2% that doesn't define definitive steps toward AGI.