Yes, we will need universal basic income soon because human brains cannot retrain themselves fast enough to work in new fields. It takes years to retrain and get good at a career, sometimes more, and sometimes impossible.
Universal basic income will provide people with money. But it won't give people enough money to or incentive to have babies. Thus, human population will decrease. Actually, the poor population will decrease. But the elites will increase in population because they have more than universal basic income.
PS. One way you can hedge against this kind of future for yourself is to invest in AI companies (such as buying stocks of companies that are racing towards this future).
However, Arts and Crafts pieces were so expensive that only the well off could afford them. The market for such work was small and didn't support that many craftsmen. It would be worthwhile to thoughtfully read some of the history of the movement because the analogy is quite deep. Successful application of the analogy, however, would not be straight forward.