So, let's not fool ourselves with predictions. We are notoriously bad a predicting long term trends.
PS: the analogy with horse is wrong in so many ways (because horses are not humans and cannot adapt like humans) but this would be another topic altogether.
The problem is that throughout human history the demand for unskilled labor has exceeded the supply, and that has been the foundation of our social contract: work, and you eat. Don't, and you starve. But some day soon, technology could make that assumption no longer true, at which point we could have big problems unless we radically rethink how our society is organized. That is something we humans have historically not been very good at.
Look back also in the early 1900s where all major newspapers were proclaiming the end of world and massive famine if we ever reached 1 billion people on Earth"
"It is estimated that the population of the world reached one billion for the first time in 1804." Source: https://en.wikipedia.org/wiki/Population_milestone_babiesIf we all put our backs into it, we can make sure that we need at least that many.
We just have to write really bad documentation and really sloppy code, which lot of people believe we are doing already.
With a bit of effort maintaining the software being written today will become such a monumental task that no Soft Eng will ever be out of work for millenia to come.
When the fox's shoulders went under water, I bet some of the fleas said "ten minutes ago 70% of us lived below the fox's shoulders and yet they're all still on the fox, so there's nothing to worry about."
My take is that we use the labor that was being used in farms for new productive purposes including health, education (as consumption, not investment) and entertainment. It's undeniable that life expectancy is increasing so we are getting something out of this increased efficiency.
Automation makes things cheaper. Look at food, it was the largest expense for most families for a very long time. Now for most families in the US it's not even close. We have taken the jobs that used to be in that area and gotten rid of them, and instead moved them into service industries like the ones I referenced above. Making things cheaper means more disposable income to be spent on luxury/nonessential items, which creates a market which didn't really exist, which in turn creates jobs. This is not hard stuff here.
But what if for almost every human supplied product/service there's a good enough machine substitue, or even just a human substitue that demands very little labor ? couldn't we reach a stable state of high unemployment ?
I call them "creative professionals who do what they do by choice".
The majority of non essential work is not "movie stars and Michelin chefs", it's either automatable burger flipping or bureucratic busy-work created to overcome the lack of a system for distributing social wealth outside of "roll around for it".
To put it in another way, we could maintain our current production and give free massages and pedicures to everyone with far fewer jobs than we have now.