India, Feb. 24 -- Indian IT firm Zoho Corp's founder and chief scientist Sridhar Vembu said that the Artificial Intelligence (AI) bubble is deflating and that corporate customers and analysts are not terribly excited about its recent developments.

In a post on X, Sridhar Vembu took the examples of Microsoft reportedly cancelling US data center leases due to oversupply concerns and Satya Nadella cautioning against overly optimistic projections about AI and Artificial General Intelligence (AGI) in particular.

However, Vembu also listed seven areas in which AI is actually useful today. They are as follows:

"1. Speech to text, text to speech, image recognition, authentication based on photos/videos/speech/.

2. Image to text (character rec...