History does not repeat itself, but it rhymes.
What we are seeing is very similar to what it must have been like for folks seeing machines take over and greatly simplify labor intensive tasks during the Industrial Revolution. Textile mills moved from hundreds of laborers making cloth on hand driven looms to machines churning out fabrics at a blistering pace. The short term effect was a major problem for those laborers who were displaced with a long term effect of creating a more efficient economy, with cheaper products for everyone and most people benefiting from a higher standard of living.

This sort of disruption happened again as computers took off. The Digital Revolution displaced many office workers. Many manual processes were replaced with digital sensors, switches and machines. For example, it was no longer necessary to have huge floors in an office building where typists manually copied documents. Again, a large number of workers suffered a major short term impact, but the long term outcome has been a net positive for society.

And things got disrupted again with the rise of the internet. Having lived through this one personally, the echoes of it are quite clear. The Internet disrupted a lot of existing systems. The rise of internet commerce was the death knell of brick and mortar businesses. The Internet was going to replace everything from banking to schooling. And ya, it caused a lot of job loss at all the stores it drove out of business. And it did drive stores out of business and continues to do so.

I suspect that, in 50 years or so, we'll look back at this time as the beginning of the "AI Revolution", and see it as an overall net positive. That isn't to say that there won't be people negatively impacted by the change. Writers and artists are very obvious casualties. Many other workers will find their jobs affected by AI as well. However, it's also worth noting that we are nowhere near strong, general purpose AI. And what AI is likely to become, for now, is a tool to increase the productivity of professionals. It will mean that fewer people are needed to perform a task. But, there will still be a need for people to oversee the and direct the AI. The Industrial Revolution wasn't the end of the world, neither was the Digital Revolution or the Internet Revolution. The AI Revolution won't be the end of the world either.