The best-case scenario here is articulated well by Tyler Cowen in "Average is Over"[1] - new, future blue-collar equivalent jobs are going to be created to interact with and train the Cambrian explosion of narrow AI applications and robotics, assuming an ongoing paradigm of mostly supervised learning.

The worst case scenario on the other hand is pretty dystopian.

I for one, welcome our new overlords.

[1]http://www.amazon.com/Average-Is-Over-Powering-Stagnation-eb...