Hi,
I don't know enough (any, really) electrical engineering to render an opinion on that. But in the article to which Chris linked in his earlier comments, there was a meter reader making $67,000 who was worried about his job. My reactions were: 1) $67,000 a year for a meter reader!, and 2) he was right to be worried, because smart meters are definitely the future of electrical meters. In fact, they are the present. Another thing I can think of is something Ray Kurzweil wrote somewhere (I've read so much of his stuff, I couldn't say which book it was). He made the point that the number of Internet connections had been doubling every three years (or whatever, I forget and am too lazy to look up the details). But if the number of Internet connections goes from 1000 to 2000 in 3 years, nobody notices. Or even 200,000 to 400,000 in 3 years. But when they go from 10,000,000 to 20,000,000 in 3 years, or 50 million to 100 million, everyone is surprised at this "new" thing. That's the incredible power of exponential growth. All of the sudden....boom! It's a really big thing. Even though it was doubling regularly for a long time, and nobody noticed it. In the long run (and I'm only talking 30-50 years) it seems like computers/robots will be able to do every job that a flesh-and-blood human can do. According to the separate calculations of Ray Kurzweil and Hans Moravec, we are only about a decade away from a computer capable of performing the same number of calculations per second (roughly 0.5 to 20 petaflops) costing $1000. I expect to see robots everywhere in the decades that follow that.
Anyway, to relate this to your story here, this really does look more than a buzzword, and the more we dig into it and talk to the software (and hardware vendors), this stuff looks real. My team looked at me the other day and simply said, you know, if this works and does what it says, we are all out of work.