I think my take is, he might be right. That is that by the time kids become adults we may have AGI and we'll either be enslaved or have much less work to do (for better or worse).
But AI as it is now, relies on input from humans. When left to take their own output as input, they go full Alabama (sorry Alabamites) with their output pretty quickly. Currently, they work as a tool in tandem with a human that knows what they're doing. If we don't make a leap from this current iteration of AI, then he'll be very very wrong.