All of a sudden you had "product managers" inserted deep in the bowels of large systems, instead of focusing on big picture topics.
This depends on the org, but product managers I've worked with spend a lot of time speaking directly with users, particularly in B2B shops. Between speaking with customers and communicating product plans both upwards (to GMs/VPs/exec etc) and outwards (to your own team + external teams) you really shouldn't have a lot of time to build anything as a PM, even with AI.