While ML might be the most demanding area in terms of computation, it's also a very small part of what developers in general do. My claim/prediction is more based on the notion that everything is becoming more compute-intensive.
Where I work, we've probably incurred many, many millions of dollars of expenses (primarily hardware) due to the choice to write a lot of software in scripting languages over the years. We made that choice because C++ was so unwieldy in comparison that we figured we'd end up spending the same amount on C++ but in different ways. If we were starting from scratch today, I doubt we'd use scripting languages like Python for hardly any of our software, because there are choices available now that just didn't exist in the past.
I'm not saying there's no place for something like Python, nor am I saying existing Python stuff should be rewritten. I think Python is going to continue being an extremely popular and important language. My claim/prediction is more that in the future we'll increasingly see Python chosen less for completely greenfield projects because there are now options that are high-level, well-designed, and extremely fast, and at least in my experience that has a lot of business value that is going to be harder and harder to ignore over time as it becomes more obvious.