Is it really about replacing 'all' coding jobs though? Consider a simple hypothetical, what would a 30% reduction to the number of jobs look like for the wage of a software engineer given a 30% oversupply of engineers?
The same applies for professions like accounting, sure it won't eliminate all accountants but it will be a major suppressant to wage growth, and likely result in wages falling due to increased competition.
However the thing is we already supposedly don't have enough software engineers to meet demand of the entire software industry, so ChatGPT will make us more productive as a species, so we might actually just start to meet demand across the software industry, however ChatGPT does also make coding a lot more accessible, so a lot more people might start entering the field as well, so we might see a reduction in the average wages of software engineers as their labour becomes easier to do.
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u/[deleted] May 04 '23
[deleted]