I myself know I'm very slow, specially developing projects. So I don't try to race anyone, except contribute to things I know are neglected. There are so many neglected problems, you don't need to work on the most coveted fields.
If there are only two directions and everybody runs in one of them, there's probably a good reason. If there are virtually infinite directions, trusting your gut about an unexplored direction that you find interesting is a much better bet. See also: startup advice.
And remember we are 6-12 months off having good, open source chatGPT class open source models and the software support to make it possible to run them at home.
"It will be unlikely we will be able to plan for the disruption as it will simply happen before anyone can reason about what is likely to happen next or what to do about it. Any such planning efforts will be obsolete before they begin"
It's a bit like the original dot-com bubble, when people were throwing what was then vast amount of money out just to be in the space. And not knowing what the business model was going to be. The business model then turned out to be advertising but it's certain that advertising is well suited to a chatbot or other new AI stuff, stuff that is computationally and dollars-wise expensive.
AI projects are often valuable if given away. I assume people will ask how valuable per watt they are after a while.
Most of my AI text-generation and image-generation projects and tools have already become obsolete by technology released in the past few months, and I've almost given up competing.