That's the bane of all productivity increasing tools, any time you free up immediately gets consumed by more work.
People keep on making the same naive assumption that the total amount of work is a constant when you mess with the cost of that work. The reality is that if you make something cheaper, people will want more of it. And it adds up to way more than what was asked before.
That's why I'm not worried about losing my job. The whole notion is based on a closed world assumption, which is always a bad assumption.
If you look at the history of computers and software engineering including compilers, ci/cd, frameworks/modules/etc. functional and OO programming paradigms, type inference, etc. There's something new every few years. Every time we make something easier and cheaper, demand goes up and the amount of programmers increases.
And every time you have people being afraid to lose their jobs. Sometimes jobs indeed disappear because that particular job ceases to exist because technique X got replaced with technique Y. But mostly people just keep their jobs and learn the new thing on the job. Or they change jobs and skill up as they go. People generally only lose their jobs when companies fail or start shrinking. It's more tied to economical cycles than to technology. And some companies just fail to adapt. AI is going to be similar. Lots of companies are flirting with it but aren't taking it seriously yet. Adoption cycles are always longer than people seem to think.
AI prompting is just a form of higher level programming and being able to program is a non optional skill to be able to prompt effectively. I'd use the word meta programming but of course that's one of those improvements we already had.