We don't really know. Less people will be needed to do the same or more amount of work, but I don't think it will outright eliminate large swaths of jobs. I think it will be a mixture of:

• Some jobs will completely reduce in number or disappear completely (think travel agents after the Internet)
• Many jobs will be able to use workers who have learned how to use AI to do their jobs more effectively, thereby squeezing more productivity out of the same amount of workers (which would result potentially in reduced hiring)
• New categories of jobs we can't even think of will be created

I think in the long term, we will adapt. There is no shortage of work to be done. In the short term, there will be a lot of pain and insecurity, especially for the poorest and most vulnerable.