I had the same question while I was budgeting for my cpc ads.
Search engine is basically a tool to seek answers.
I use AI, mainly chatgpt and Claude alot and they have helped me tremendously in answering questions. The more I understand how to use it, the more powerful it becomes.
There's less need for me to Google the answers I need as AI could answer immediately , it could also clarify my doubts if I've more questions.
Chatgpt just included using photos input.
I sent it screenshot of my Google tag manager page and it could figure out which tag is causing a conflict and asked me to pause it.
As AI gets more capable, search engines will become a less useful tool. It won't be dead immediately but I believe its importance will be greatly reduced.
Back to my cpc ads, I have a strong feeling that display ads and social media ads may gradually be more dominant as they are less eroded from the growth of AI. No doubt that Organic Google ads still provide the best conversion at the moment but I believe that there will be big changes to the landscape in the near future.