Based on my experience, at the present moment in time, I think you should be expecting more code (groundbreaking improvements in productivity), but not necessarily significantly better code. But certainly not worse code. Current generation AIs are writing tactical code absolutely brilliantly (often better than my own code), but often making very odd strategic decisions (functionally decomposing code in odd ways, for example).
But, the rate of change in this area is breathtaking. I reasonably expect my AI to improve in the coming months, or even weeks. And I find it difficult to keep up with which AIs are best for generating code at any given moment. There may be AIs that are good at reviewing multi-million-line code bases for security flaws. But I am not currently using one at the present time.
What I do know: my AI coding partner this year is writing code that is more accurate and more stylish than any AIs were producing this time last year. The code that's being produced is often strategically brilliant -- elegant, concise, only very occasionally using hard-coded constants instead of including the correct headers, and almost completely absent of "hallucinations". And I'm using it to regularly generate code in three different languages (C++ for the app server, typescript for the web client, java for the Android client application).
I've frequently found myself adopting coding conventions that my AI has shown me. I particularly like
namespace fs = std::filesystem;
And the solution it came up with for writing a std:filebuf implementation stills leaves me speechless. I've done that a few times over my career, and the solution the AI uses is infinitely superior to anything I've ever written -- not something I've EVER seen, but clearly the horrible, never documented way the original authors of the iostream libraries MEANT people to do it, which provides substantial advantages over the way I've been doing it. And absolutely nowhere to be found in the first 30 page of google searches, or among the strangely variously broken and obsolete fragments of code on StackExchange.
But my current AI often falls short when it comes to strategic thinking. Functional decomposition is often odd. I often have to refactor code that my AI generates -- sometimes by coaching it through refactoring, and sometimes doing it myself when I move the generated code into production code. But that may change next week. Who knows?
Have I used it for debugging existing code? A couple of times. I'm not currently seeing a huge productivity boost in this area.
Today, I coached it to write me a bash shell script to generate a graph of a key development metric using gnuplot. Bash: as a former Windows programmer, bash still terrifies me. Gnuplot: a documentation set that could be called unforgiveable if you were feeling particularly generous. Took me about 20 minutes. "Change the font of the title, please". "Take input from this program, which produces a column of ISO 8601 dates, and an integer value". "Rotate the date labels 90 degrees anti-clockwise" (It mistakenly rotated them clockwise. The only flaw in an otherwise fantastic performance). Etc. It took me about 20 minutes to do what would have taken me a couple of hours. I wouldn't have done it if I didn't have an AI at my disposal.
Context: Using Claude 3.5, 40 years of very senior Windows development experience, but only about 3 years of Linux development experience.