An AGI would have no concept of morals or good or bad or even anything resembling a will.

Therefore does it not follow that the only possibility of malevolence or benevolence would derive from the instructions of humans. By which point I expect society to be much more evolved and aligned (as perhaps we merge with the AI) so as to not have gravely conflicting interests.

Perhaps in fact, meaning itself, a human construct, will cease and render such concerns of good vs bad obsolete?