If a company can now move faster because code gets deployed faster: what are companies gonna do with the gained time? Well, develop more features, right? And probably they will find out that now they need to deliver really complex features to beat their competitors. Perhaps we soon find that while AI can generate code just fine, they cannot yet perhaps generate truly complex systems? (i.e., AI cannot generate code that doesn’t resemble a bit their training material… so basically you don’t know what you don’t know).
I think if software developer jobs are taken over by AI, software developers will still be employable doing something related to software development. Perhaps not writing “raw code” anymore, but definitely using AI to meet customer needs. If any, AI will make companies in need of more developers (we’ll need to find another name for ourselves) I think. 50 years code, code wasn’t what companies needed, they wanted to solve business problems… but it turns out you need code for that. AI doesn’t change that, I think: we may not write code anymore and use AI to solve business needs, but we still need people to operate that AI.
AGI is a different thing, though. But then I don’t think we are close to that.