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If the promise of AI means I can do 1/2 the amount of work and maintain my high quality life, then I'm all for it. However, every advancement that has come in the last 100 years that improved efficiency has only meant we're pushed to work more and do more. So I am now expected to do 2x the work.If you're content to live at the same quality-of-life that people had in 1923, you can certainly achieve that by doing half the amount of work. The cost of living that quality of life is dirt-cheap - median household real-income back then in today's dollars is less than $30k. The average person back then had a life expectancy of ~60, barely traveled long distances, had minimal electronic gadgets, and lived in houses that have none of today's modern amenities.
If you're content with that kind of lifestyle, you can easily achieve that by either working as a freelancer for 20 hours per week. Or by working a high-paying job, saving most of your money, and retiring in your 30s/40s.
Most people don't do this because ... they don't want to live like someone in 1923. Our own life expectations today are far higher, and hence, we push ourselves to work 40+ hours/week to meet them.
The risk of hyper-income-inequality is real. Fortunately we also live in a democracy. Billionaires like Murdoch will be able to exploit wedge issues like guns and LGBT for only so long. Sooner or later a critical mass of people will demand sharply more progressive tax rates, and even things like UBI, if too much wealth is concentrated in too few hands.