Entire industries stand to be gutted, and people's careers destroyed. Even if an AI is only 80% as good, it has <1% of the cost, which is an ROI that no corporation can afford to ignore.
That's not even to mention the political implications of photo and audio deepfakes that are getting better and better by the week. Most of the obvious tells we were laughing at months ago are gone.
And before anyone makes the comparison, I would like to remind everyone that the stereotypical depiction of Luddites as small-minded anti-technology idiots is a lie. They embraced new technology, just not how it was used. Their actual complaints - that skilled workers would be displaced, that wealth and power would be concentrated in a small number of machine owners, and that overall quality of goods would decrease - have all come to pass.
In a time of unprecedented wealth disparity, general global democratic backsliding, and near universal unease at the near-unstoppable power of a small number of corporations, we really do not want to go through another cycle of wealth consolidation. This is how we get corporate feifdoms.
There is another path - if our ability to live and flourish wasn't directly tied to our individual economic output. But nobody wants to have that conversation.
And BTW when people spend less resources to get more goods and services - that’s the definition of prospering society. Of course having some people changing jobs because less manpower is needed to do same amount of work is an inevitable consequence of a progress.
This time is different because AI has the potential to have a similar impact on efficiency across all work. In the past, efficiency gains created totally new spaces of economic activity in which the innovation could not further impact. But AI is a ubiquitous force multiplier, there is no productive human activity that AI can't disrupt. There is no analogous new space of economic activity that humanity as a whole can move to in order to stay relevant to the world's economic activity.