I work/study in AI, and it is completely over-hyped. For one thing, the C-suite can't wrap it's head around the fact that AI != LLM; they all seem to think all AI is just LLMs. On top of that, they are way too eager to throw humans out of the loop.

That said, I think LLM applications, even in their current form, are super useful in development and business practices. I myself use it to increase my productivity in coding. But, I use it as an augmentation rather than a replacement. One of my friends put it best the other day, "LLMs are like a junior dev to your senior dev. You need to be hyper-specific, and you need to check it's output." In other words, it's great for off-loading some work, but it isn't going to completely replace humans.

With that said, I'm a bit annoyed that other AI fields are being over-shadowed by LLMs. There's a ton of other interesting work being done in those fields that is super useful and important. All of them, though, are not going to replace humans but rather augment and make humans more productive. I've found that an AI-Human team is most effective.