Agree, AI is going to extrapolate. As AI becomes more capable it will replace more jobs. At the limit there will be zero jobs for human beings. So what happens then? The economy will no longer function. Even the argument that new technology creates new jobs falls down because AI could eventually design and build itself along with any other machine that’s needed. We’ll be wards of our technology, but it won’t even be ours anymore. AI will be in control.
Some like to say people concerned about jobs lost to mechanization are just reacting to some kind of irrational fear and are failing to understand progress. However there is some rationality there. If you take mechanization to the limit it could upset our society at the least, or at worst cause our extinction.