The pursuit of AI: a better world for whom?

You can fool all the people some of the time and some of the people all the time, but you cannot fool all of the people all the time. While many historians continue to debate whether Abraham Lincoln was really the original author of this well-known adage, there couldn't be a more pertinent expression to describe the most advanced AI bots that you interact with today. They are designed and trained to address a finite number of specific use-cases as effectively as an intelligent human would, or at least should, but they cannot always trick everyone into believing that it is a human on the other side. Technologists call it Weak AI or Applied AI, and it covers the whole spectrum, from your grandfather's pocket calculator to your most trusted personal assistant Siri. If we have been arrogant enough to name the present AI as Weak, then why do we fear it?