No matter the subject, as AI grows, its capabilities will become exponential.
Except it can't, really; the universe is bound by physics and can't support exponential growth that way.
You can't exceed Carnot efficiency.
You can't defeat the square-cubed law (for things that involve getting resources/waste into/out of a particular volume (including heat - where do you think this AI is going to get all the energy it needs to do all this stuff?).
So while AI might be able to do certain things efficiently, it can't grow without bounds - the universe just doesn't allow it.
Now, that said, AI will probably indeed handle most of the deterministic things in the world - it will probably equalize a lot of sub-optimal things.
But we aren't going to have AI playing sports, we aren't going to have AI taking all creative jobs, we aren't going to have AI "replacing" tourism - you can't "AI" a trip to the grand canyon for instance. You can't "AI" having a family.
So if we let the AI figure out how to distribute all the resources it creates, rather than letting people do it, we'll all be fine. But that is going to be the trick - actually letting the AI do it.