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Since current AI only generates code that has some similarity to code it's seen before, I suspect this will only be an issue for people doing low code or making relatively simple CRUD applications and the like, at least for the foreseeable future. People working on software that requires a lot of domain knowledge won't lose their jobs. Salaries could go down if the demand for software engineers drops, but if the number of new engineers also falls then salaries could stay around the same level, and even increase for niche roles. In the long term we might get into a situation where a small number of engineers are trained to provide training data for the AI, which would be interesting. All of this ks of course pure speculation.