I think we're at a similar point with LLMs. The technical stuff is largely "done" - LLMs have closer to 10% than 10x headroom in how much they will technologically improve, we'll find ways to make them more efficient and burn fewer GPU cycles, the cost will come down as more entrants mature.
But the social changes are going to be vast. Expect huge amounts of AI slop and propaganda. Expect white-collar unemployment as execs realize that all their expensive employees can be replaced by an LLM, followed by white-collar business formation as customers realize that product quality went to shit when all the people were laid off. Expect the Internet as we loved it to disappear, if it hasn't already. Expect new products or networks to arise that are less open and so less vulnerable to the propagation of AI slop. Expect changes in the structure of governments. Mass media was a key element in the formation of the modern nation state, mass cheap fake media will likely lead to its fragmentation as any old Joe with a ChatGPT account can put out mass quantities of bullshit. Probably expect war as people compete to own the discourse.