A Grand Unified Theory of the AI Hype Cycle
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It also seems we are seeing the specific applications in the wild, and as the author points out they are still staunchly called AI. I am talking about Adobe's use in Photoshop or phones using AI to enhance pictures; concise and commercially viable uses that are very far from the doom and gloom (or castle in the sky) predictions.
Or maybe not. We have very smart AI/RL researchers claiming AGI in 2-5 years. Dismissing this could be the same as dismissing the nuclear bomb in 1942. Maybe there's one or several missing components, but just like physics can predict a nuclear chain reaction, scaling laws show empirically what happens when you add more data, more compute and increase the model size. Pair that with Moore's law and that's why AI researchers are so confident we haven't plateaued.