I don’t think current implementations cause an existential risk. But current implementations are causing a backward step in our society.

We have lost the ability to get reliable news. Not that fake news did not exist before AI, but the price to produce it was not practically zero.

Now we can spam social media with whatever narrative we want. And no human can swift through all of it to tell real from bs.

So now we are becoming even more dependent on AI. Now we need an AI copilot to help us swift through garbage to find some inkling of truth.

We are setting up a society where AI gets more powerful, and humans becomes less sufficient.

It has nothing to do with dooms day scenarios of robots harvesting our bodies, and more with humans not being able to interact with the world without AI. This already happened with smartphones, and while there are some advantages, I don’t think there are many people that have a healthy relationship with their smartphone.