People seem to think it's all smoke and mirrors. IDK. My employer, in an industry as far removed from Silicon Valley as you can probably get, makes more and better use of it all the time. There's enormous amounts of work done every day in corporate America that amounts to "I need X, but X involves some data from legacy system Y and legacy system Z, and that's going to take me an hour to glue together because our entire enterprise runs on a system cobbled together over the past 50 years". You know what Codex/Cowork/etc can do really stunningly good these days? Take the files you provide, listen to what you want from them, ask clarifying questions as necessary, then write a script that programmatically does exactly what you ask for, checks its own work and then gives you the result.

We also realized that a project we thought was going to involve thousands of man-hours of very expensive, senior draftsperson labor to backport a feature into decades of CAD files we could, after years of procrastination, just forget! AI has got to the point where it can see and count what we need for us with greater accuracy, in our tests, than our very best humans, so we can just make the change going forward and let AI read the old files as needed.

There's incremental commercial adoption of that nature that I'm sure is happening slowly across the corporate spectrum, and that kind of thing is durable demand, not a bubble.

Note though that I'm talking about real revenue, etc. Not stock market bubbles. The feds been inflating that junk since the housing bust. We'll all pay for that eventually.