My insurance provider has already replaced all of its customer service staff with AI. As I found out when I tried to ask them a question the other day. I'm changing insurance companies.

I can't think of a single job it can replace.

Me either and I don't think it ever will reach that. We're already seeing diminishing returns.

The thing is it doesn't need to replace a full job. If it improves productivity by 10% then that's the number that will either lose their job or just not get hired in the first place.

I'm sure these are very worrying times for folks in college, especially computer science and the arts.

UBI seems like the only long term solution to me.

It already has a social impact on the people's whose intellectual property was pirated, the employees traumatized by nsfw filtering tasks and the reduction of white collar junior recruitment (probably non junior too?). I know some people think it's just a bubble, companies are waiting to see what happens and the job market will recover. I am doubtful of it.
My tech company is pushing us to use it so they provide the top tools. From what I have observed, I have little doubt it will replace a lot of the designing, engineering, coding and communication time. Yes, you will still need some knowledgeable person to guide and review, but less than before. Similarly to how you need less people to build a car today than you did in the 50', and even less for an electric car, because so much more is automated.
So far automation and the internet did create more better paid jobs than it destroyed, maybe it will happen with "AI" too, but I am skeptical.
Finally, in my opinion, UBI and work time reduction with equivalent quality of life is a desirable future.

It's going fully replace a LOT of jobs, and as future iterations learn more and more, it will replace even more complex jobs. You are underestimating the Ferengi's compulsion for more wealth. They will let quality slip significantly, if it means higher profits.

In a few years, they be gaslighting us that double digit unemployment is perfectly normal in a healthy, high-tech society.

It’s devaluating human worth in the workplace. Solid paying jobs will go away. You will still work, you just won’t live as comfortably.