People aren't saying that AI as a tool is going to go bust. Instead, people are saying that this practice of spending 100s of millions, or even billions of dollars on training massive models is going bust.

AI isn't going to be the world changing, AGI, that was sold to the public. Instead, it will simply be another B2B SaaS product. Useful, for sure. Even profitable for startups.

But "take over the world" good? Unlikely.