I have so far seen two working AI applications that actually makes sense, both in a hospital setting:

1. Assisting oncologists in reading cancer images. Still the oncologists that makes the call, but it seems to be of use to them.
2. Creating a first draft when transcribing dictated notes. Listening and correcting is apparently faster for most people than listening and writing from scratch.

These two are nifty, but it doesn't make a multi billion dollar industry.

In other words the bubble is bursting and the value / waste ratio looks extremely low.

Say what you want about the Tulip bubble, but at least tulips are pretty.