> Now normies can just write the code.

Normies know enough Excel to debug their "code". Will they be able to debug code AI produces?

> I used to work as a trader for a major investment bank. Everything was excel. I can’t see it staying that way.

How much of that Excel usage is part of the regular flow? As in several different teams using and sharing Excel files with a common template, so they can have macros that depend on the shape of data in the spreadsheet?

If the traders are mostly just using it for their own individual analyses, I can believe you. If they're sharing the Excel files across disparate departments ... it will be tougher.

A much simpler solution that a full blown replacement is simply having AI read, understand and edit Excel files. Why go with a completely different solution if the AI can solve all your problems within Excel?

Excel is used to store data, visualise data, manipulate data, write 'code', and share artifacts (worksheets). Writing software is better for all of these things, but normies weren't able to write software themselves. Now they can.

I also reject the premise that excel is simpler. Building a spreadsheet of any real complexity is a genuinely learned skill. It's hard. Often you are wrangling with the limitations of excel. Version control, tests, permissioning etc is poor in excel but a solved problem in software.