To understand how business views developers, reread Tim Bryce's Theory P: The Philosophy of Managing Programmers (which is old enough to drink in the USA today): https://web.archive.org/web/20160407111718fw_/http://phmains... Tim Bryce was kind of the anti Scott Adams: he felt that programmers were people of mediocre intelligence at best that thought they were so damn smart, when really if they were so smart, they'd…
Regarding your assertion:
> as AI becomes a critical component of software development, business thinking will become more necessary and technical thinking, much less so.
That remains to be seen. This is the story that AI evangelists are peddling and that employes are salivating over, for sure.