Yes, it is based on my observations. I also see the cool, fast moving smaller companies (and even some big ones) that use AI and technology in fascinating ways

Yes, it is based on my observations. I also see the cool, fast moving smaller companies (and even some big ones) that use AI and technology in fascinating ways - but I would caution against overlooking what a lot of the new technologies might wind up to be used for. For example, modern controlling functions couldn't exist without a certain level of technology. How much technology spend these days is dedicated to some form of administrative tasks? Those $$$ will have an effect.