Looking at the three use cases here:
chatbots
For fake social interactions chatbots are alright but as soon as they're on your company site giving your visitors actual information they're liable to either make things up or just return nothing, neither of which are useful. Currently, commercially speaking, worse than an FAQ section.
research and summarization
The problem for research is that your LLMs make things up, which means your research will be wrong unless you're actually doing research into LLMs. Meanwhile for summarisation a recent Australian study showed LLMs to be worse then humans in every way for document summarisation, so...
automation
Machine Learning sits under the general headline of "AI" and might be useful for this. LLMs are only really good for automating interactions with people who you don't care about, as they're obviously LLMs and people will recognise that very quickly.
There's a couple of things I don't see here: jobs that LLMs are -or ever will be- capable of doing, and anything which will bring in an income within orders of magnitude of the levels of investment in AI we have seen recently.
Very hard to see it as anything other than a bubble at this point and I'd say that in his analogy we're closer to 1999.