This assumes companies have finite backlogs. AI will raise productivity, but to date no company has said 'our software is done, send all the programmers home.' Instead companies expand what they want from their software.
The rate of change could make the short term bumpy as companies try to play around with less dev work. Eventually though competition will push companies to raise their productivity to the new baseline (programmers + AI).
One thing that is a danger is if devs ignore what's happening in AI. I remember when Google first came out having to learn the art of querying Google to get what I was looking for. AI/LLMs looks to be the same - ignore learning how to leverage them at your own peril.
This 100% does happen, all the time, mostly in SMB.
Hire a team to build a project, when it's finally satisfied most of your requirements, you progressively cut staff until only Jim is left, and Jim spends the next two decades maintaining the system, growing out his hair and beard, piling kludge on top of kludge, and drinking heavily until retirement.
The HN bubble, focused so intently on BigTech and FAANG, is woefully unaware of how things work basically everywhere else.
According to Fidelity, Twitter has gone from a 44 billion dollar company to less than 10 in 2 years. Clearly we should not be using it as an example of how to run a technology business.
The rate of change could make the short term bumpy as companies try to play around with less dev work. Eventually though competition will push companies to raise their productivity to the new baseline (programmers + AI).
One thing that is a danger is if devs ignore what's happening in AI. I remember when Google first came out having to learn the art of querying Google to get what I was looking for. AI/LLMs looks to be the same - ignore learning how to leverage them at your own peril.