In a way, yes. The AI function itself hasn’t changed much in 20 years. Back then, the idea was to give a pressure readout that would display in the same place as the rest of the dive data.
#3 isn’t exactly right. They can calculate SAC (PSI or BAR per minute). RMV (cu. ft. or liters per minute) is usually done after, as that requires entering the tank parameters which is generally not done in the computer.
They can display real time SAC, but I find the GTR or ATR (gas/air time remaining) to be more useful during the dive than SAC.
Here are two dives from my log. The one logged with the Garmin is non-AI. The Shearwater dive has AI. The sloping line is the pressure.
For the Garmin dive,it’s just a guess as all it really knows is the start and end. Subsurface assumes a consistent RMV throughout the dive and uses the depth to vary the slope.
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For the Shearwater dive, it has more data points as the computer logs the pressure every few seconds. The different colors indicate areas where consumption was higher when compared to the rest of the dive. I’ve come to expect red at the start of the dive. This makes sense as the tank is cooling and I add a bit aof gas to my BC to establish neutral buoyancy. Reds in other parts of the dive might indicate higher exertion, or a potential problem.
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I find that extra information to be useful. I dove for years without a computer, but once I got one, I went all in. It was AI from the start. The only dives I do now without AI are dives at an aquarium. I need to use the aquarium’s gear, so no AI on those. I definitely see that AI is where things are headed. Shearwater, for instance resisted AI for a while until they introduced the Perdix AI. The current Shearwater lineup only has one DC (Peregrine) that doesn’t have AI capability.