Transformativeness is only one of the four fair use factors. Just because something is transformative can’t alone make something fair use.

Even if AI is transformative, it would likely fail on the third factor. Fair use requires you to take the minimum amount of the copyrighted work, and AI companies scrape as much data as possible to train their models. Very unlikely to support a finding of fair use.

The final factor is market impact. As generative AIs are built to mimic the creativite outputs of human authorship. By design AI acts as a market replacement for human authorship so it would likely fail on this factor as well.

Regardless, trained AI models are unlikely to be copyrightable. Copyrights require human authorship which is why AI and animal generated art are not copyrightable.

A trained AI model is a piece of software so it should be protectable by patents because it is functional rather than expressive. But a patent requires you to describe how it works, so you can’t do that with AI. And a trained AI model is self-generated from training data, so there’s no human authorship even if trained AI models were copyrightable.

The exact laws that do apply to AI models is unclear. And it will likely be determined by court cases.