I am not sure that we are not presented with a Catch-22. Yes, life might likely be better for developers and other careers if AI fails to live up to expectations. However, a lot companies, i.e., many of our employers, have invested a lot of money in these products. In the event AI fails, I think the stretched rubber band of economics will slap back hard. So, many might end up losing their jobs (and more) anyway.
Even if it takes off, they might have invested in the wrong picks or etc. If you think of the dot com boom the Internet was eventually a very successful thing, e commerce did work out, but there were a lot of losing horses to bet on.
If AI fails to continue to improve, the worst-case economic outcome is a short and mild recession and probably not even that.
Once sector of the economy would cut down on investment spending, which can be easily offset by decreasing the interest rate.
But this is a short-term effect. What I'm worried is a structural change of the labor market, which would be positive for most people, but probably negative for people like me.
