Coders may want to look at translators for an idea of what might happen.
Translation software has been around for a couple of decades. It was pretty shitty. But about 10 years ago it started to get to the point where it could translate relatively accurately. However, it couldn't produce text that sounded like it was written by a human. A good translator (and there are plenty of bad ones) could easy outperform a machine. Their jobs were "safe".
I speak several languages quite well and used to do freelance translation work. I noticed that as the software got better, you'd start to see companies who instead of paying you to translate wanted to pay you less to "edit" or "proofread" a document pre-translated by machine. I never accepted such work because sometimes it took almost as much work as translating it from scratch, and secondly, I didn't want to do work where the focus wasn't on quality. But I saw the software steadily improving, and this was before ChatGPT, and I realized the writing was on the wall. So I decided not to become dependent on that for an income stream, and moved away from it.
When LLMs came out, and they now produce text that sounded like it was written by a native speaker (in major languages). Sure, it's not going to win any literary awards, but the vast vast majority of translation work out there is commercial, not literature.
Several things have happened: 1) there's very little translation work available compared to before, because now you can pay only a few people to double-check machine-generated translations (that are fairly good to start with); 2) many companies aren't using humans at all as the translations are "good enough" and a few mistakes won't matter that much; 3) the work that is available is high-volume and uninteresting, no longer a creative challenge (which is why I did it in the first place); 4) downward pressure on translation rates (which are typically per word), and 5) very talented translators (who are more like writers/artists) are still in demand for literary works or highly creative work (i.e., major marketing campaign), so the top 1% translators still have their jobs. Also more niche language pairs for which LLMs aren't trained will be safe.
It will continue to exist as a profession, but diminishing, until it'll eventually be a fraction of what it was 10 or 15 years ago.
(This is specifically translating written documents, not live interpreting which isn't affected by this trend, or at least not much.)