you are making the assumption that a "smart enough" AI will intrinsicly value human life.
There is no reason for this to be the case. What something values is almost entirely independant of its intelligence.
At best, a human would be worthless to an AI who 100% only values paperclips (better as paperclips than humans), at worst seen as a threat to its ability to continue. (better to kill them off ASAP before try to stop me)
Thats the entire point of the paperclip maximizer thought experiment, to demonstrate that values, especially values humans care about, are not the same thing as inteligence.
Your entire ability to not "take things literally" is based off of a large amount of built in assumptions about whats important, your human nature and cultural experience. An AI would lack any of that, and if it was programmed only to value paperclips, even if was the most inteligent being in existence, thats all it would value, to the exclusion of everything else.
Consider autistic people with very high IQs, and due to their condition, very little understanding/concern about the emotions of others.