The impact of Artificial Intelligence (AI) on job insecurity perceptions among Software Engineering (SE) students is a topic of increasing significance. As AI technologies continue to advance, there is a growing apprehension about the potential threat to traditional software development roles. The use of AI in automating routine tasks in software development has raised concerns about job security within the industry. This concern is particularly relevant for emerging professionals, such as SE students, who are evaluating the long-term viability of their chosen career paths in the context of evolving technologies. The research aims to explore the concerns, expectations and experiences of these students in relation to AI technologies, providing valuable guidance for both students and educational institutions in navigating this rapidly changing landscape. In this study, therefore we incorporated both pilot interviews with 6 people and a survey with 50 participants to gather comprehensive insights into the specific implications of AI on the job insecurity perceptions of SE students. We have found out that young professionals exhibit a mix of skepticism and optimism towards AI, reflecting a refined perspective on the technology’s impact and potential. Our results reveal that most students are not engaging in networking or training programs. Despite this a number of students are proactively preparing themselves for the changing job market through the use of different methods, such as online resources. Nevertheless, the consensus is that a diverse range of initiatives and guidelines for AI usage is necessary. Students would like to see AI training programs from employers as well as universities, while also expressing doubts about ethical issues among other concerns, thus calling for government regulations. Our findings from this research contributes to a deeper understanding of the interplay between AI advancements and the job market. Thus, offering insights that can help students and educational institutions better prepare for the evolving demands of the industry.