In the digital epoch, Artificial Intelligence (AI) has cemented its footing as a cornerstone in many sectors, software development being a prime exemplar. This piece delineates the multifaceted impacts of AI in software development, underscoring both the boons and the banes.

Advantages of AI in Software Development:

1. Automated Coding: AI can automate mundane coding tasks, catapulting productivity and allowing developers to focus on more creative and complex facets of projects.
2. Bug Detection and Rectification: With AI, identifying and rectifying bugs becomes a breeze, ensuring a robust, high-quality software product.
3. Predictive Analysis: AI's predictive analysis can foretell project hurdles, aiding in better planning and resource allocation.
4. Enhanced User Experience: AI can personalize user experiences by learning and adapting to user behavior, a pivotal step towards customer satisfaction.
5. Cost Efficiency: By automating various development phases, AI significantly trims down the operational costs.

Disadvantages of AI in Software Development:

1. High Initial Costs: The upfront investment for integrating AI can be hefty, posing a financial hurdle for many enterprises.
2. Dependency on Data: AI thrives on data. Insufficient or poor-quality data can stymie its performance, rendering it less effective.
3. Complexity and Understandability: The complexity of AI algorithms can be a daunting challenge, making troubleshooting and modifications a tough nut to crack.
4. Ethical Concerns: The deployment of AI raises ethical questions, especially when it comes to bias and privacy issues.
5. Job Displacement: While automation boosts efficiency, it also threatens to displace jobs, a concern that needs a thoughtful addressal.

AI in software development is indeed a double-edged sword. While it propels efficiency and innovation, the downsides cannot be brushed under the carpet. As the digital realm continues to evolve, finding a middle ground to leverage AI's potential while mitigating its drawbacks is the linchpin for future success in software development.