Some experts believe that artificial intelligence will serve to increase our capabilities and that it will combine with humans in a symbiotic way. This future is not presented in a dystopian way, but as a society that will be able to advance much faster in scientific discoveries and technical developments that will benefit us all.
The reality will probably be that AI will bring us both benefits and drawbacks. It is already doing so right now. An interesting book I read recently that deals with the subject:
Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy. By Cathy O'Neil
https://www.amazon.com/Weapons-Math-Destruction-Increases-Inequality/dp/0553418831/ref=sr_1_2
It appears to be more political, than anything else. Statistical models can accurately determine risk, even if the results are politically incorrect. Here in the UK, insurance companies used to give women cheaper car insurance than men, because they're statistically shown to drive more carefully and have fewer accidents, yet this was found to be sexist and they were forced to charge women the same. The result has been women paying more, not men paying less.
In the past, banks in the US have charged higher rates and avoided giving mortgages and insurance in areas where it's not profitable to do so. They have been accused of racism, because such areas are dominated by ethnic minorities, but I doubt that was the case. It seemed to be more about them not wanting to do business in areas which aren't profitable.
The problem with machine learning is it's opaque. In the case of a hand coded algorithm, it's possible to explain to someone why they were refused a mortgage, but this isn't possible when the decision is the product of machine learning.
There might be an argument for not including data about ethnicity, religion, sex etc. in the data, but otherwise I can't see any good coming from tweaking models to give politically correct results.
I'm very cynical about a singularity emerging any time soon. As far as I'm aware, the current generation of AI models aren't able to distinguish simple things as cause from effect.