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As many forums say, with other tech inventions they replaced the horse not the rider. With AI; they are replacing the rider - that makes it a unique technology that does not compare to previous technology being introduced. Other forms of technology typically enabled use cases which didn't seem possible (e.g. electricity, cooking food faster, flying, etc) - this one at present is just about making existing cases more efficient/removing the need for labor. As many non-techies mention - other than doing my assignment/email/etc what benefit does it have on my daily life other than threaten some jobs and generate some worthless online content?

The cost/benefit for the labor/middle/low classes is at best low right now. I define that as someone who needs to trade time to continue surviving as an ongoing concern even if they have some wealth behind them.

I think the outcome where any form of meritocratic society gives way to old fashioned resource acquisition based societies is definitely one believable outcome. Warfare, land and resource ownership - the old will become the new again.