This is correct, but there's also some meta comment to be made that research has an "instragram problem". What he's talking about isn't really even AI so much as deep learning: there are lots of other branches that now get virtually no play relative to deep learning. And then there are all sorts of adjacent CS, image processing (when was the last time you saw someone talk about wavelets), language analysis, and other…
or enlightened corporations - ahm … never mind.