Teachers won't be exempt.
Look at what's going on in US public education with the move to Core Curriculum. The focus is on reading and math, with outcomes measured via computer based testing. You think when cash-strapped state legislatures realize they could reduce the number of teachers down to a single proctor watching over self-paced computer based instruction that they won't go for it, especially when "the test" (since that's what we're doing here... teaching to the test) is computer-delivered?
This isn't to say that teachers will go away anymore than retail clerks, or buggy-whip makers or barrel makers before them, will go away, but their ranks will thin and where they are employed will change. There will still be people willing to pay for personal instruction and there will still be courses that are difficult to deliver via CBT alone.
I always thought online / computer-based education, especially for grade school, sounded terrible. But once I saw how little my kids are actually getting in public school, and especially with federal meddling ala No Child Left Behind and Core Curriculum, I would actually embrace it - at least it would be self-paced and allow more advanced students to move ahead rather than sitting bored waiting on their peers.
Look what's happening at the university level with MOOCs already. That's only going to accelerate, and university professors are teachers by another name - maybe calling it "automation" isn't exactly right, but we'll certainly see a thinning of the ranks.