MacBook Air M1 or M2 for studies and AI?

The M1 (at 5 years since release) is probably at the tail end of the macOS upgrade cycle. Might get another major macOS might not it's hard to say.

Unless there's a very significant price difference, I'd say the M2 may be a better choice for longevity.

Both can support Apple Intelligence so that should not be a concern either way and both can do wiring and essays just fine along with presentations and other similarly light work loads.

As mentioned you will want at least 16GB of RAM. Storage may not be as important if you can take an external drive with you. But even I struggled with 256GB on a M1 and I'm super frugal with my storage usage. Get at least 512GB.

Or a fairly large portable external drive to compensate and be prepared to access files from there for the most part.

Also, as mentioned, can't stress enough, when buying used, beware of sales that seem to good to be true, and also verify that the Mac has been erased and prepared for sale adequately. If it's sitting at the desktop, then walk away it is probably not ready for us and highly likely still locked to the previous owners account which will not be able to to be removed. It must be at the Hello screen waiting to be setup as if it had just been taken out of the box the first time. Any other screen when turned on, is a red flag.

Either model would be fine as long as it is configured well enough ... by that I mean at minimum 16GB RAM and 1TB SSD. More RAM would be better but perhaps not essential for your stated uses.

That said, an M2 is a later generation and as such will have a longer useful life than an M1. Also keep in mind that the M1's were the first generation Apple Silicon (I do not generally recommend 1st generation of anything.)

Do look into getting an M4 MBAir instead. If budget is a concern, consider a refurbished MBAir from Apple. They are 'like new' and have the standard Apple warranty and are eligible for AppleCare. I have purchased a number of refurbs from Apple over the years and they have all been perfect. In fact, I'm still using a refurb'd 2012 MacBook Pro and a refurb'd 2019 iMac even today! I also trust OWC for refurbished Macs (and, yes, I have purchased some from OWC.)

At this point, there are several disadvantages to choosing the M1 MacBook Airs over later models.

• They don't have a MagSafe 3 charging port. You must charge over one of the two multi-purpose USB-C ports, which in the absence of a powered dock or hub, can lead to increased port juggling. M2, M3, and M4 MacBook Airs can charge either over USB-C or over MagSafe 3.
• They only support one external display. For some people, this will be a "who cares?", for others, it will be a deal breaker. If you are in the latter group, you really want a Mac notebook that has a Pro chip, a Max chip, or a plain M4 chip. (The M4 MacBook Airs are the first that can drive two external displays, and the built-in screen, at the same time.)
• You could buy M1 MacBook Airs with any screen size that you like, as long as it was 13". With later models, you have a choice of 13" and 15" screen sizes.

Last, but not least, the M1 MacBook Air has been discontinued for a while. This means that you would be buying a used one. In terms of getting a used Mac that is in good condition and that is not an Activation-Locked "brick", or that has not been properly prepared for a new owner, the Apple Certified Refurbished Store is probably your best bet. Other World Computing is another vendor that many here would consider. Beyond that, caveat emptor.

With any used Mac, the previous owner should have done this:

What to do before you sell, give away, trade in, or recycle your Mac - Apple Support

If they haven't, that may be setting you up for problems sooner or later.

Contact the school and professors where you will be studying. Get their recommendations for which computer to use. When in a course of study you must be 100% compatible with other students, your professors, required apps, and your school's tech support.