McKinsey seems very optimistic about the effects of AI development. The report talks about how soon 50% of work currently done by humans can be done by AI. It says that as developed world economies are aging, AI won't replace workers, it will make up for the shortfall in new young workers. That strikes me as a naive best-case scenario.
The real issue will be that AI-workers will be cheaper than humans. Most people's wage level is determined by free market prices. It's why global forces keep working class wages low in America or Europe. AI will be that, but orders of magnitude greater. It will also be doing it to professional more powerful people, which means politicians are running out of time to ignore the issue.
I haven't yet seen understanding from an "AI". Without that, their use is limited.