Is this tree dying?

Bought a house last year. Noticed this year some saw dust around the base of this tree and it's gotten progressive worse over the summer. I noticed the ants. Looked into it and learned the ants aren't eating the tree, just evacuating dead wood. Seems like a lot of dead wood for a good size tree right next to where I park my car.

I'm not a professional but I am nervous about it. Should I take it down or do you think it's ok? Branches all look healthy and full