Seems like a lot of CEOs overestimated the speed of AI, but also it is inevitable.
it's a common missconception that engineers spend most of their time producing code based on documented requirements in jira tickets. I'd believe that a complete automation of this aspect of our industry would only be enough to provide a 10-20% boost in productivity. Still impressive, but within the range of "Our team improved our CI, build times, development process etc."
It takes years or decades for the automation of an artisan process to shake out, because it involves rethinking how everything around the now-automated process happens, and because the benefits involve the automation's ability to continue scaling beyond a level where human capacity was saturated. We're only at the very beginning of that process for coding, and right now we tend to see LLMs somewhat awkwardly inserted into pre-existing software development lifecycles. But it's unlikely that'll be still be the way we're creating software in 10/20 years time.