AI is in the midst of a revolution that's unlike anything we've witnessed before. Just imagine a whirlwind of advancements, unlike the slow and steady waves of mobile, social, or cloud computing technology.

Venture capitalist Mary Meeker issued a fascinating 340-slide presentation to chronicle the AI revolution, where she used the word "unprecedented" 51 times. It's a testament to how the speed and scale of AI development, adoption, and usage are reshaping our reality. Her report, aptly named "Trends — Artificial Intelligence," beautifully captures this extraordinary AI landscape.

From a historical perspective, the author of such a groundbreaking report isn't a newcomer in the tech world. Meeker, often referred to as the Queen of the Internet, is a foundational figure in the technology investment sector. Notably, she led growth at Kleiner Perkins from 2010-2019 before founding Bond, thus playing a vital role in the success of tech powerhouses such as Facebook, Spotify, Ring, and Square. Now, she is focusing her expertise on the AI sphere, detailing trends that underscore the unparalleled speed of AI adoption.

AI's exponential growth is evident in platforms like ChatGPT, now used by over 800 million people just 17 months after its launch. Similarly, the growing number of companies achieving high recurring revenue rates, and the pace at which they do so, are both unparalleled.

Furthermore, technology is becoming increasingly affordable. Apart from the costs of training an AI model (which are indeed skyrocketing), the costs for individuals and businesses that use AI are dropping drastically. Meeker cites Stanford research, stating a 99% reduction in the cost of utilization over two years, in terms of cost per 1 million tokens.

Meanwhile, the pace of competition in AI is equally unprecedented. Companies are matching and sometimes surpassing each other's features at reduced costs, including open-source models, notably those developed in China.

Simultaneously, companies like Google and Amazon are investing heavily in sophisticated chips for AI-specific computing, which are not just side projects. These are foundations for future growth. However, it's worth mentioning that AI hasn't outperformed every other tech revolution in terms of financial returns. While investors eagerly fuel AI's growth, these companies are also spending heavily on needed infrastructure.

Meeker suggests that this spending fosters innovation and competition, which ultimately benefits consumers and businesses with advancements at lower costs. However, it remains a mystery which of these companies will evolve into profitable tech giants, transforming the present-day dreamers into tomorrow's leaders.

For the rest of us, the ride is just beginning, so buckle up!