Artificial intelligence's public breakout moment was the unveiling of ChatGPT in late 2022, though AI research dates back to the computer age. The last four years have seen explosive AI development, significantly impacting markets and the economy. Nvidia, a key chip maker, and the "Mag Seven" tech companies have seen immense market capitalization growth due to their AI involvement. Substantial investments in AI infrastructure have also contributed significantly to US economic growth. Public perception of AI has shifted from awe to apprehension, with concerns about job displacement and negative societal impacts. The current debate surrounding AI is often unproductive, with advocates and skeptics focused on different aspects and resorting to labeling. Understanding AI requires viewing it as a business, evaluating its ability to convert potential into tangible products, revenue, and profits. Revolutionary change, like AI, typically progresses through four phases: hope and hype, investing build-up, business building, and recalibration. The current AI boom can be seen as being in the hope and hype and early investing build-up phases. This cycle involves true believers, investment in new products, and the eventual monetization and competition that shapes industries.