I think it'll probably split.

At the high end, there will always (or at least for a fairly long time) be a subset of work where AI can't do everything itself. Perhaps the framework or language is too new, or its built for hardware that's only just become possible. Perhaps the company is worried about security issues resulting from letting LLMs access its systems, or needs a human in the loop to take any liability. Perhaps the tech needs a level of performance that an AI might struggle with, and which a longtime engineer with a computer science background may be better at dealing with (like stock trading systems or something).

This will pay very well, but probably only provide enough jobs for 5-10% of the current software engineering workforce.

Then there will probably be a large number of companies where AI does most of the work, but where one or two people will probably be kept on board to guide it in the right direction/take care of issues. I suspect a lot of less technical/cutting edge companies in more 'traditional' industries will be in this camp.

Finally, a lot of work will just be outright replaced by having an LLM take care of everything. This isn't viable for FAANG companies or fortune 500 level ones, but the average mum and pop business could probably just replace its entire development team with a Claude subscription. I suspect a lot of web development agencies and lower level jobs are just going to vanish.

So, yeah. High level bespoke work where every microsecond is king? Stays mostly the same, albeit with some AI usage to handle the boring stuff.

Basic brochure/shop/CMS site development? Claude and co take over almost entirely.