> Will programmers write more efficient code during the memory shortage?

Yes. No. Yes.

I've worked in gamedev, helping ship code that ran on consoles. Nice fixed hardware targets. You OOM, you crash. We crashed a lot, and cut and saved and optimized and explicitly invoked the garbage collector twice on level transitions, because a single full scripting language GC doesn't work when finalizers must run to deref C++ objects to unroot script objects, and committed other horrific hacks.

The memory shortage may eventually impact fixed targets like this. Or the minspec publishers will swallow for fuzzier targets like "PC". But it takes awhile for new targets to roll out, and for newly bought PCs to make a significant dent on total percentage of PC ownership. Steam Machine's about to release with 16+8GB and while price and market saturation may be affected by the memory shortage, I'd be suprised if the actual spec changed.

> Maybe there will even be more interest in the invention and use of more advanced algorithms

Not for typical gamedev IMO. There the focus will be more on "reduce the amount of content loaded in memory simultaniously". That means less detail, smaller scale, or less variation. Going from 4096x4096 to 2048x2048 textures quarters your texture memory usage. The surface of meshes also has some square density nonsense going on. Basic animation tends to scale with bone count and keyframes, which are more linear, although shape keys are more per-vertex nonsense.

And of course, reusing the same mesh or texture multiple times doesn't use more memory, just more memory bandwidth.

Audio is more a factor of "how many sound effects (and variants) do we need preloaded just in case there's suddenly an event that triggers them".

These are the big ticket items for memory use and advanced algorithms don't help much. Rather, the algorithms help stretch whatever amount of memory you do have to provide the best amount of quality you can, and the small constant shift in total memory availability doesn't change the calculus for how important that is very much (which depending on the game ranges from "unimportant, everything fits in memory easily" to "critical, we're doing open world streaming and we've got terrabytes of raw data already, 16 vs 64GB of memory doesn't change that much")

> and data structures that use less memory?

Some bit packing type stuff comes up for smaller logical data structures in gamedev, and that can be useful for saving memory bandwidth, but I'm skeptical of how critical it is for total memory usage outside of the occasional Factorio.