AI is on a path to eclipse human abilities in all domains, without restriction this will lead to runaway superintelligence, the singularity, etc.

I don't think this will happen in this universe though, as we will get a fair amount of "warning shots" on what AI can do on its own and how those goals necessarily disempower, threaten, and endanger human welfare. This will lead to a significant regulatory regime, retraction of the capitalist mode of AI buildout to a more state-level one, and perhaps a soft dictatorship under a multi-polar paced frontier.

The average person's life will improve though as AI will enable many breakthroughs in medicine, technology, etc which won't require superintelligence. However we will live under the perpetual shadow of the titan we put on a leash and managed to pilfer a pittance of the singularity's bounty from.