There are many more narratives about the future of AI than that. I just saw a talk stipulating that AI is a reaction to populism by the class of capital holders. They say it is going to be used as a way for them to hold onto their wealth; hence the mass surveillance we see now.

I personally think it is still too early to tell. We are basically sitting on the edge of a pool dipping our toes in the water, waiting to jump in. Whatever predictions people make about it now, they are ignoring all the inevitable twists and turns that are bound to happen in the coming years.