Won't companies always want to compete with one another, so simply using AI won't be enough. We will always want better and better software, more features, etc. so that race will never end until we get an AI fully capable of managing all parts (100%) of the development process (which we don't seem to be close to yet).
From Excel to Autocad there's been a lot of tools that were expected to decrease the amount of work ended up actually increasing it due to having new capabilities and the constant demand for innovation. I suppose the difference would be if we think AI will continue to get really good, or if it'll become SO good that it is plug and play and completely replaces people.