AGI might be far away but it is not even needed for major a disruption. Domain-specific ML is however here, and it is more than adequate to displace most of the workforce. The same way a driverless car is not expected to contemplate the finer aspects of Tolstoy’s prose ML algorithms only need to outperform humans in one single narrow domain.
It is also beyond doubt that AI could find new cures and a myriad of other inventions, but the process itself will be likely very undemocratic as the few early birds with the best ML tools will eat the worm. In fact it is not unlikely that AI will further aggravate the growing inequality.