No.
And AI is a misleading name for the thing. It likens it to human intelligence. But that is not what it does. I recreates a skill. Some "AI" Art exposes how little artistic value many of so called Art actually has. Ever seen one of those old Bob Ross painting lessons? How he squirts out a landscape in a few minutes? It is a skill, for sure, but is it Art in the sense most people nowadays understand Art? Nah. It is Art in the original sense. Masterful execution of a skill. And skills can be trained to machines to perfection. What did olde portrait painters do? They tried to copy what they saw. Masterfully with their available tools, an exhibit of understanding of perspective and lighting and color compositions, yadda, yadda, but a cheap copy compared to a good photograph.
As ridden as that horse is, but it is just a tool. It will put people out of work, for sure. But how many Artists went out of job, when animation movies were no longer hand drawn, but made with computers?
You still need a lead Artist that guides the grunt work, the AI can do. And from what I read, that grunt work has to be sorted out quite thoroghly, what with the missing arms and other mistakes.
If we scoff at AI usage, we should also scoff at people not drawing on paper and scanning it in. Or those heretics using 3d render software to create pictures for a vn, instead of using individually hand drawn pictures.
But to answer again, it can replace some work to some extent. But it is a long, long way, till we might have something like in StarTrek Holodecks where they order their Computer to create a programm with such and such. But if your work as an Artist is mindlessly drawing the same picture in different angles... tough.