Spot on. The current wave of GenAI has created a bunch of new markets, but those markets are, at least currently, the unsavory types: LLM-based virtual girlfriends, AI hentai games running off stable diffusion, SEO and social media spam with ChatGPT, etc.

The best we've got in the "regular" enterprise world is excellent parsing of unstructured documents. Which is, to be sure, hugely valuable and will make a big difference in a lot of industries. But isn't nearly enough to justify the insane evaluations and investment companies are making into AI right now.

Two years into the AI boom, and it's starting to look closer to blockchain and the metaverse than the iPhone.