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While I agree that AI is here to stay, he did say the bubble popping. I could believe that there could be a reduced level of investment for a while. In the past, we did have periods where we thought that various AI tasks would be easier to solve than they were, and investment fell back as we discovered that there were more hard problems to solve before we could accomplish a particular feat. Didn't go away, but did see a decrease in work on it for a while.
https://en.wikipedia.org/wiki/AI_winter
Obviously, we did achieve a number of those
like, we have pretty solid machine translation of human language today. I remember, pre-Brexit, a senior EU translator for the UK talking about EU translation work. One thing he mentioned was that he did all of his first drafts via Google Translate and then just did manual cleanup by hand
and I'd call that a fairly prestigious translation position. But it took more time and research than we initially expected.