It is useful... in some respects. The true danger here is not in economic collapse but in what you succinctly described as a perception that it "delivers magic"

It is useful... in some respects. The true danger here is not in economic collapse but in what you succinctly described as a perception that it "delivers magic". It doesn't, but there's certainly a lot of momentum behind the idea that it does, leading to its implementation in lots of areas where what it actually delivers are hazards. We're still a long way from understanding how to deal with the disastrous consequences of its biases (see Gemini's recent drama for an excellent, if melodramatic, example) so promises of its ability to optimise workflows and decision-making are leading to its implementation in spaces where a lack of human oversight leads to nothing short of human rights abuses. Proptech, immigration, welfare etc are areas where AI might be useful, but the research right now indicates that it's currently deeply problematic. I'm not trying to fear-monger, I think if the promises can be delivered, of course the results could be extraordinary. But even nascent analysis suggests that more care is required and that the reality is it falls very far short of "magic". And just to ward off any naysayers, I'm a GPT subscriber who finds it very useful in a variety of ways and uses it almost daily. But also anyone who's used this tech for a minute and approaches it from a viewpoint of cautious optimism rather than rose-tinted glasses knows that its limitations are quickly understood.