Depends. The same way the previous advances in technology replaced old jobs and made new jobs possible. When the camera was invented, it competed with traditional painters and indirectly affected the painting industry. When the digital camera was invented, it competed with photographers with dark rooms (also affecting the industries tied to the business).
If your painter client stops buying the art materials you produce because they went out of business, your arts and crafts supply business tanks along with your suppliers. It's a chain reaction.
But people and society will eventually find new jobs to suit the times. That's how digital photography flourished, digital painting / media artists started, and other industries that supported the change. New tech changes the landscape and those who survive the change gets to put food on the table.
I think society will find a way to introduce new forms of work augmented by AI.
AI still has trouble reading cues on art despite being able to generate art.
It can identify the colors, shapes, and patterns but not the context or message the artist wants to tell on a piece. If a human, even non-artist would appreciate the wonder but not the AI. It just does what it's told and generates.
AI can write stories but it may have trouble deciding how to localize the story to the target audience. It can't decide personal creative directions from the author. But it does make spelling and grammar error check a lot faster.
I've seen medical interns struggle with comprehending what they learn in medschool even with the tools available to them now. I wish I had AI to assist me back if I knew what I know now. It made creating reports faster but how that knowledge gets used into critical thinking is still a personal progress.
What AI adoption does right now is separating which ones are capable to survive by developing critical thinking skills while in a job augmented by AI.
If people are out of jobs, they don't have money to buy products and services from the rich. So the rich (including the government) are also incentivized to come up with new jobs to accommodate the displacement caused by AI in society.
I imagine a future where new forms of employment would be fact checking or fixing mistakes AI made.
Thanks for your time.
