Check out the work of Jacque Fresco. He predicted all of this.

There are two problems with this scenario. First, who owns and controls AI? Technocrats of course. You will own nothing and be happy. Technocratic control of society will be absolute.

Second, a problem Elon Musk brought up; how does a person have meaning in their life if they cannot identify as their work? What if AI steals your art, your writing, your job, even the very ideas and knowledge you have on all your devises and in your head? Who are you, and how do you create meaning? How can a person develop a full functioning ego without hardship and work?