It will eventually be super useful, and so disruptive that it will make today's LLMs look like nothing particularly special IMHO.

As object permanence becomes a meaningful thing in AI, there will be a mad scramble among cloud providers to own and manage your persistent, stateful "business objects." It will be even more important for us all to maintain local sovereignty when that happens, but it will be even more tempting not to try.

Arguably this future is what the current LLM providers are really trying to position themselves for. Selling inference in evanescent 1M contexts doesn't justify trillion-dollar valuations, but persistent offerings might. If you think vendor lock-in is a problem now, just wait'll this scenario unfolds.