Yes, AI will replace many tedious, inefficient, and sometimes expensive tasks. Not sure I would agree with your dystopian view of job disruption in its entirety. I think, the fallacy in your reasoning is centered around demand. You focused on the supply side of the equation. Where is the demand side? Will my expectation stay the same in the future? Will AI be able to learn and adapt to my expectations? Will AI know what my buying/design/whatscool decision is influenced by. Based on learning from past data, for example, will AI know what and when to innovate? Would you give purchasing control to AI?

AI is only as good as its data it learnt from. If we as a society decide not to ‘privatize’ the control of data, and instead keep a tight lid on this, how will AI advance?