How recent AI improvements and predictions of possible eradication of white collar jobs impact investing?

Some of the current leaders of AI companies predict that this year or the next one will see eradication of white collar jobs. Let us not argue when this is going to happen, nor shall we argue about the possibility. What if this came true? What happens to stock investing? Do people take out money from it in the short term? Then it very slowly rebounds? Does this mean it is better to have cash? Or something tangible? Like real estate? But if people have no money real estate loses value as well, right? So, whats the deal? Where do I put my money?