We're not just beginning to see it, it's already happened. It was enabled by digitized information, then amplified by the networking of the internet. The value of fresh information today is worth the price of a Google refresh, which for most people is effectively nothing. AI doesn't change that equation, and I'd argue it's overall impact on journalism will be less harmful than an ad-optimized economy or even the mere existence of YouTube.
Quality journalism hasn't had a meaningful source of funding for a while, now. If AI does end up replacing honest-to-goodness investigative reporting, it'll be for the same reason the internet replaced the newspaper.