I don't disagree, aspects of that will be automated, but two things will remain: Intent and Judgement.
Building AI systems will be about determining the right thing to build and ensuring your AI system fully understands it. For example, I have a trading bot that trades. I spent a lot of time on refining the optimization statement for the AI. If you give it the wrong goal or there's any ambiguity, it can go down the wrong path.
On the back end, I then judge the outcomes. As an engineer I can understand if the work it did actually accomplished the outcomes I wanted. In the future it will be applying that judgement to every field out there.
How technical do you need to be with your optimization statements and outcome checking? Isn't that moat constantly shrinking if AI is constantly getting better?
Another way of saying this is most line engineers will be moving into management, but managing AIs instead of people.
You're trusting AI to trade with your real money?