Their work will get cheaper so it will become more accessible for people, increasing demand over all would be my guess to some degree at least.

I anticipate an effect on society that troubles me:

(1) Rich people will use human expertise and "the rest of us" will use AI models to get by. This could happen in law, but also in medicine (in particular in societies that - like in the US - do not have universal healthcare).

(2) A positive effect in both domains may be that access to knowledge will be broader and cheaper.

I hope I will be wrong about (1) - I would not like to live in such a two-class society.