AI progress is accelerating without signs of a financial bubble, driven by massive investments in compute and model scaling. While full automation of jobs remains distant, task-level AI could displace 5%–10% of employment this decade, prompting a shift toward adaptable, passion-driven careers. Economic impacts may be profound, with GDP growth potentially reaching 30% if AI replaces most remote labor. Real-world utility, not benchmarks, will define progress—measured by outcomes like solving unsolved math problems, which AI might achieve within five years. In science, AI acts as a co-researcher, enhancing discovery in fields like biology, though breakthroughs remain incremental. Superintelligence isn't imminent, but pathways exist by mid-century. Meanwhile, Anthropic leads in building the first gigawatt data center, signaling infrastructure scale-up, while energy constraints are less about scarcity and more about cost negotiations. Policy attention is expected to grow exponentially as AI's influence expands.