I'm not sure it is as simple as that - Induced Demand might be enough to keep the pool of human-hours steady. What that does to wages though, who can say...
Well it certainly depends on how much induced demand there is, and how much automation can multiply developer productivity.
If we are talking an 80% reduction in developers needed per project, then we would need 5x the amount of software demand in the future to avoid a workforce reduction.
