Are Backlinks Still Powerful in Increasing Ranking

Can backlinks still help to increase ranking in search engine?

How Google and Bing give weightage to backlinks now-a-days to rank webpages? Are backlinks still powerful in increasing ranking for a website in search engine? A dofollow backlink from relevant and authority site still outranks getting thousands of profile and comments backlinks, Is is useful? Does that still work? Also, are image backlinks more important than textual backlinks? How about links within the content (in-content) v/s links from footer of a website? Which is worth more? I suppose in-content/article links that are do-follow are given more importance. Also, how AI search engines like chatgpt, claude, copilot handle backlinks? Do they give importance to it in GEO/AI SEO?

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