I don't disagree that the number of applications of ML/AI is not as universal as the hype would lead one to believe at present. However, don't underestimate th

I don't disagree that the number of applications of ML/AI is not as universal as the hype would lead one to believe at present. However, don't underestimate that AI/ML could be a secular growth over twenty+ years. From that perspective, marginal (but constant) growth could result from widespread adoption of these methods (with tweaks) to new markets. A VC should necessarily take a relatively long perspective,so your two viewpoints are not necessarily irreconcilable.