AI has this effect where whenever an approach starts working, it ceases to be AI:
https://en.wikipedia.org/wiki/AI_effect
It's worth remembering that many of the actual technologies developed in 1970s AI - A*, beam search, pattern matching, constraint solving, rules engines - are now basic CS algorithms that most programmers are just expected to know, and they have continued applicability to a wide variety of domains. We just don't call them "AI" anymore, because the technology has been commoditized enough that they are "business rules", or "single-player games", or "layout engines", or other examples of the actual problem domain that's solved.
Ditto 1990s AI - fuzzy logic, SVMs, Bayesian networks, collaborative filtering, perceptrons. It just got good enough that it became the standard way you solve a certain class of problems with computers, and now it's called "fraud detection", "Zestimates (tm)", "recommendation engines", "stream ranking", and so on.
Deep learning is the same. The hype cycle will eventually bust, because all hype cycles eventually bust. But in the meantime, it has opened up whole classes of problems in computer vision, speech recognition, recommendation, machine translation, and several other domains that were not amenable to computerized treatment before.