I see AI as just fad and hype for the moment. What we have know is artificial stupidity.
If you've defined "AI" as "generative AI" (e.g. ChatGPT writing an essay based on a prompt), then I agree with you -- that's more of a party trick than a useful tool.
OTOH if you define "AI" slightly more broadly as "using neural networks to find solutions to problems that are impractical to solve any other way", I think there is a lot more potential there. The most famous example of that right now is self-driving cars, but there are plenty of other tedious tasks like weeding and tending crops, changing the sheets on hotel-room beds, etc, where an AI-equipped robot would completely change the industry.