So you can make pictures and 3d models from text descriptions. So you can get a voice to say something. But if you were determined to do bad things, you already could. It would be easy enough to hire an actor who sounds like Obama and make him say something outrageous. It would be easy enough to use Photoshop to make disgusting images.
Are you sure it's the capabilities you fear, and not the people who now for the first time will get access to them?
Are you sure "we", the wealthy, the technologically and educationally resourceful, the powerful, are so much better custodians?