AI doesn't just mean LLMs and image generators. Deep neural networks trained on large datasets are everywhere. When you do a Google search, it uses AI to decide which pages to show you. Hit the translate button in your browser and it uses AI to translate the page. Log in to Youtube and it uses AI to decide what videos to recommend to you. Post a photo on Facebook and it uses AI to identify the people in it.
Agreed, but those things aren't seen as disruptive new applications that form part of an investment bubble. This at the moment comprises mostly of things like LLMs and GANs along with apps that are reliant on AI such as self-driving cars and new drug manufacture, etc.
There is also the fact that those "bubble" applications are in the hands of a very small number of players compared to tech in previous bubbles like the .com boom, web3 and stuff, which comprise of thousands of players spreading the investment.