It does not have to be 16% of all jobs, but 16% of any given job, i.e. AI stays in an augmentative role rather than a complete job automation. The simplistic analysis is if a tool makes you X% faster, that can be worth X% of your salary to your employer.

Unfortunately, I do fear that AI adoption will go beyond augmentation to automation, and I do fear an economic shock. Just posted this down-thread: https://news.ycombinator.com/item?id=49722616