Software engineers have been trying to put themselves out of a job ever since the profession first came into being. Whenever an engineer gets a task their very first thought is "how can I automate this?" Going by mainstream consensus we should all have been unemployed by now. Yet every new leap into automation opens up a whole new tree of possibilities with an order of magnutude more jobs. So no, the profession will be fine. The only requirement is that you keep up with the new advancements. The people losing jobs will be the ones who still go "I don't trust this AI thing to write code for me".
> Software engineers have been trying to put themselves out of a job ever since the profession first came into being
That's by design. Software is all about optimizing effort and people who want to do this generally correlate with world view that better, faster, smarter humans are better for the world. If coding is gone, but humanity is 20% _better_, then ideal software engineer would be happy with this sacrifice. Surely people who cracked coding before LLMs can crack other professions and if anything a lot of this knowledge is transferable.
This time it is different. Because in the past, setting up that automation needed a, drumroll, qualified engineer. Now you can get a 14 year old halfway around the world who knows how to prompt alright enough to ship. There is no more moat.
"Low code" has been a dream of the industry for longer than I've been alive. There are reasons SQL and COBOL look superficially like English even when it's inefficient to do so. There are reasons Excel is the most popular programming language. Programmers have always been trying to enable non-programmers to write software.
Experience, culture, and domain knowledge are still somewhat of a moat. That foreign youth is unlikely to be able to write a good prompt for building, let's say, the software in an FDA-regulated medical device or custom Fortune 500 ERP application. The LLMs are great at building what you ask for but it's still garbage in / garbage out.
Increasingly less so though as these american companies themselves offshore not low skill work, but high skill work now brought on from general upskilling of the general population in recent decades along with massive investment in world class R&D campus facilities no different than what you see in that sort of facility stateside. Scary times ahead for the high skill american...
Would the Americans investing in SPY be saved?