Imagine how bad social media already is, AI is going to be infinitely (the actual meaning) worse for society and not just with deepfakes. We are charging deeper into darkness with no idea of how to make a metaphorical lantern.
If the march of AI continues and it will, we are going to see people become entirely lost and detached from reality. This will result in people becoming digital zombies where they are either physically or metaphorically hooked into machines and living an alternative life. In social media, there was at least glimpses of interaction with human beings with some social 'nutrition' or ability to translate to 'real life'. With AI, there is none, it becomes mental junk food that charades as veggies and the barrier of training is so high that bad actors (governments, global corporations, etc) are going to use this position to seed their own thoughts in society without being realized and squeeze free diverse thought out.
In some ways, this is a utopia: dementia, bed-ridden, paraplegic, etc. In other ways, it is hikikomori on mega-steroids.
I am a proponent of the hardware singularity, but I am fearful of what an AI singularity would mean for human beings en masse. We are charging into still uncharted territory and the problem is going to get a lot worse.