Anyone else feeling scared of AI induced unemployment ?

There is no point in being scared about technological evolution. It is here to stay and will accelerate going forward. But as with each tech revolution, it displaces a lot of existing jobs and creates new ones. Just accept this and try to upskill continuously. We are surely heading into a new phase where your existing credentials won't matter as much as your skillsets in identifying and solving problems in your domain.

Well if most of us lose jobs then the companies that fired us won't have enough users to sell their stuff which would lead to their collapse which in turn will lead to a systematic economic collapse. So it won't be as drastic as we think but some areas would have some level of workforce reduction due to AI automating parts of your job.

See shopify took out a lot of custom ecom development, wix/squarespace/elementor are now default option to launch a simple webpage. Similarly AI is going to knock off lot of other web based services. Sam Altman tweeted that dev salary market is going to correct itself drastically over next 5 years. Why would businesses pay a agency 30k$ for an ios app when same can be attained through subscription to some giant AI service provide for couple of hundred dollars. Currently Most people go for AWS or other cloud provider for backend infra - they don't hire engineers to set up their own distributed Data warehouses and servers. Similarly most likely in 3-5yrs all digital assets (video,image,code,music etc..) will be provided as some sort of subscription.

Think about it. Who is best placed to take advantage of AI? It’s us right ? If companies don’t need employees and can just use AI, phir toh hum hi khol lenge company.

You got a decade before that happens. Embrace the change and try to use the tools in your role

It's scary indeed. But the cat is out of the bag. Think of how much routine work in content, marketing, social media and design can be automated. Businesses are not going to keep people around just for the human touch, no matter what they say. The overall market will shrink and there'll likely be a couple of superstars in every domain that can be hired for specialized work. For people like us whose roles can be mostly automated, it means preparing for new opportunities that emerge in the same domain or finding a new domain altogether.