The more realistic argument is that AI will be used as a power amplifier by the already powerful.
The rich will ALWAYS get their piece of the pie, and once they've had their fill, we'll be left fighting for the crumbs and thanking them for their generosity.
AI won't solve world hunger, it will make millions of people jobless. It won't stop wars, it will be used as a tool for the elite to spread propaganda. The problems that plague society today are ones that technology (that has existed for decades) can fix but greed prevents it.
And those which are carried in our pockets are no longer capable of being home brewed.