expression
what is called; the so-called; so to speak
A set phrase used to introduce a term or concept, often with a nuance of explanation or definition. Functions as a modifier before a noun or noun phrase.
彼は言うところの「天才」だ。
He is what you would call a 'genius'.
これがいわゆる言うところの「AI革命
This is the so-called 'AI revolution'.
いわゆる is a single-word prenominal adjective meaning 'so-called', while 言うところの is a more explicit phrase that literally means 'what is called' and can sound slightly more explanatory or formal.
From 言う (to say) + ところ (place/point) + の (attributive particle), literally 'the point of saying'. The phrase grammaticalized into a fixed expression meaning 'what is called'.