Is there anything actually useful or novel about "AI"?

Feel like we've got a lot of tech savvy people here seems like a good place to ask. Basically as a dumb guy that reads the news it seems like everyone that lost their mind (and savings) on crypto just pivoted to AI. In addition to that you've got all these people invested in AI companies running around with flashlights under their chins like "bro this is so scary how good we made this thing". Seems like bullshit.

I've seen people generating bits of programming with it which seems useful but idk man. Coming from CNC I don't think I'd just send it with some chatgpt code. Is it all hype? Is there something actually useful under there?