Automatic loom is something different because — like other progresses in history — it just automated manual work. This and other industrial progresses gradually led most jobs to shift from manual to office-type work. Computers automated the boring/“mechanical” parts of thinking (simulations, solving equations, etc.) but now they are taking over the whole thinking part: intuition, systemization, requirements gathering, soft skills, etc. Nothing will be spared as far as I see.
Stakeholders at the top of the ladder will still be there (as they will own the means of production — AI + compute centers) but they will mostly just instruct AI to do what they want. AI will ask clarifying questions, do research, maybe spin up a few dozen of instances of themselves to simulate the emergent results of having a group of people/an organization design and think things through, rather than a lone-wolf kind of thing.