The problem, both for this and image generation, is going to come down to Fair Use.

"the purpose and character of your use"

"the nature of the copyrighted work"

"the amount and substantiality of the portion taken"

"the effect of the use upon the potential market."

I'm fairly certain that every one of these 4 points can be argued in favor of generative AI's. At a minimum, these systems are extremely transformative, augment the capabilities of the user and organizations as a whole, have huge possible ways they can be used, and will spawn more quality content in larger projects.

At the same time, it will take and transform jobs beyond recognition, especially for art. You want concept art, and you want to iterate on it to get a feel before committing to larger, hand drawn professional pieces? Don't wait, prompt and iterate in the meeting room itself! Need thousands of textures to make every little thing in your game unique yet similar in style, more content than any number of artists you hire could reasonably create? Generate them. It'll replace work some artists do while massively expanding possibilities as a whole.

Current programming AIs are far less powerful in that regard, but are still good timesavers. If you need to rewrite some functions to make them simpler and fix bugs, or you have your API and relationships figured out and know exactly how to do it but want to save time writing it all out, being able to get the AI to write your for loops, filters, regexes, call the functions you need, etc all by typing a few comments in plain English saves a lot of time that's better spent on verification, debugging, and architecture. ChatGPT can also be a good way to begin new projects, though here there be dragons, it really likes to hallucinate imaginary API.