From what I see, the real AI, the ones users don't see, but the ones powers research infrastructures or working on private data are doing some real work and creating real results is the future. The LLMs many see are toys when compared to these ones.
I have seen AI models run experiments in lab, the boring vision models like YOLO creating real predictions and insights about our ecosystem, and fine tuned local LLMs provide real insights.
Hardware companies are not in a bubble because of this, but user facing LLMs are in a bubble.
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