AI may not have delivered on all the grand promises made by executives in its early days, but that’s not necessarily a sign of failure. Instead, the technology is entering what some are calling its "meh" era—a phase where expectations are settling and reality is catching up. This slowdown isn’t alarming; it’s natural. After the initial wave of excitement sparked by ChatGPT, many predicted sweeping disruptions across industries, massive job losses, and the obsolescence of traditional education and careers. Yet, three years in, the transformation has been far more gradual than anticipated. A recent MIT study found that only 5% of companies surveyed managed to turn AI into actual revenue, highlighting the gap between hype and practical impact. Still, that doesn’t mean AI is a disappointment. Like past technological shifts—think the internet or smartphones—AI’s real value is unfolding over time, through steady improvements rather than overnight revolutions. The tortoise is still moving, and it may ultimately win the race. But the cost of patience is rising. AI tools are becoming expensive, and companies are spending heavily on infrastructure, talent, and experimentation. The question now isn’t whether AI will change the world, but whether people—especially business leaders and investors—will keep waiting for tangible returns. If progress feels too slow, public and corporate patience could wear thin. Meanwhile, demand for AI expertise remains high. Executive advisers who embraced AI early are now in demand, helping organizations navigate the gap between promise and performance. The technology is still evolving, and its long-term impact is likely to be profound—just not in the way many first imagined. In other news, Wall Street is grappling with AI’s growing role in finance, with interns using tools like ChatGPT and worrying about job displacement. Meanwhile, Goldman Sachs sees today’s bull market as unique—what it calls a “postmodern” cycle, shaped by new economic dynamics. On the corporate front, activist campaigns like Elliott Management’s stake in Pepsi are making headlines, but they’re often less threatening than in the past. Tech-wise, Amazon is preparing to launch a new AI workspace called Quick Suite, enabling businesses to build custom AI agents. Meta’s internal culture remains strong, as one departing employee noted in a post that the company “met most” of her expectations. And Google, despite earlier antitrust rulings, has won a major victory by being allowed to keep Chrome, signaling a possible end to the era of aggressive Big Tech regulation. In business, brand collaborations are getting increasingly unexpected—Kate Spade’s ketchup packet purse and Chipotle’s dormwear line with Urban Outfitters are just two examples of how companies are leaning into nostalgia and cultural moments. Instagram has finally launched an iPad version, offering a more immersive scrolling experience. And in the Hamptons, a weekend of luxury revealed deeper tensions around wealth and access. The AI journey is far from over. The hype may have cooled, but the groundwork is being laid for lasting change.