Further examination and discussion with more experienced researchers gave me pause. They said that one must have a solution, or a significant new approach toward solving the hard problems associated with a research project for it to be viable, otherwise time (and money) is wasted finding new ways to solve the easy problems.
This is a more general principle that can be applied to most areas of endeavour. When you set about research and development that involves a mix of easy, medium, and hard problems, you must solve the hard problems first otherwise you blow your budget finding new ways to solve the easy problems, which nobody cares about in science.
But "AI" has left the realm of science behind and entered the realm of capitalism where several years of meaningless intellectual gyration without ever solving a hard problem may be quite profitable.