Is the Programming Market Oversaturated?

What made me write this post?

Every so often I hear that the programming market will be saturated eventually and we are all going to end up on the streets. Is this really true?

Current situation.

Right now, programmers are the engine of innovation. You can't do more or less serious projects without programming. And as many know, in the last couple of years, FED printed looots of money to stimulate the economy.

Hyped Programming.

So it's no surprise that this money ended up in our pockets. Right now, this policy is changing, and we can see some shrinks in the money supply for IT business. But primarily, it will affect industries that are not making serious profits (like Blockchain-based companies).

Investors are now putting money in Web 3.0 because they have this money. And if the money supply will be lessened at the governmental level, then investors will be more cautious when deciding where to put their dollars.

Traditional Programming.

If we consider well-established development, then it can be partly affected too. But it's a double-edged sword. From one point of view, more and more people are jumping into blockchain development from the traditional one, thus creating a workforce shortage in the industry. From the other point of view, if this "Web 3.0 revolution" fails, then all these people will be going back to vacancies that they used to keep, thus oversaturating the market.

Perspectives.

AI will replace developers.

AI is getting better and better in everything. So it’s a matter of time before we will generate most of our code through AI. But code needs to be understandable, and someone needs to tweak it anyway. This is where programmers will find their application in such a scenario.

I believe that there will be times when AI will not need supervision but AI that will be capable of writing such a code will be very close to a General AI thus a technical singularity. And at this point, all the professions will have no use too.

No-code will Replace Developers.

You can generate a boilerplate application via no-code. But if you have a special use case (most businesses do) then it needs to be customized through manual coding. Consider landing page generators as an example. They didn’t kill web development in any way.

Technological growth will slow down.

Some people say that rate of IT development will slow down. But the global trend is that programming is becoming more and more beneficial for every economy, and we can't live without it.

The Internet itself is developing. Take Starlink and 5G as an example. It’s becoming faster and more accessible.

Conclusion.

I am sure that we will keep our jobs highly compensated until the advent of General AI. Humanity has always automated everything. And there is just no means to automate everything aside from programming.

So stay calm and keep coding.