It won't roll like that. AI will empower people to be more productive but won't free people up because it makes mistakes, can't help itself, and cannot function autonomously. There is no LLM application that is safe for autonomous usage today. How can we go from 0 to 1? I don't see a path. Self driving cars still can't reach L5 to completely remove the need for driver.
But maybe this is a blessing in disguise. It will make AI more like a new ability of humans than of the companies. Companies need people to unlock AI efficiencies. And AI tends to become open sourced so everyone has access to the same. AI is not a moat for companies and human ability to hand-held it is tied to individuals. That would make the transition easier. Solving that last 1% accuracy might encounter exponential friction and last for a while.