Even with today's technology all 7.5 billion of us could live like kings and queens. It is pure pure greed and arrogance that prevents it.
Quite possibly... but why do you think better technology will change that situation? If anything, wouldn't it only make matters worse?
With machines doing the work, the free abundance is even more obvious.
With machines doing the work, there will be fewer jobs available for human beings, which in and of itself is not a problem except for this annoying fact that people need money to live.
"Oh, but we can replace our capitalistic system with a socialized one", you might say... except the reality of a socialized system that can take care of people who are not able to work requires a majority of the population to be paying taxes, which requires that they are earning an income. in a situation where most people cannot find work at all because all of their jobs have been replaced by increasingly intelligent machines, any attempt at a social welfare system to support them would collapse almost immediately.