<Here is a joke for you>

Factory work began when people could use other people as machines. For example, mechanized looms could weave cloth but each cloth weaving machine needed a machine to run it. So use people. Children, real slaves anyone. Slave labor. Thus began the Factory Age.

Now AI can replace people for repetitive labor. AI Can run the machines, it is the new Slave Labor. The problem now is what to do with all the freed slaves? If AI can make us the things that are needed, then how are we needed? We are not. As freed slaves, suddenly we are out of work. We are obsolete.

Unfortunately, for corporations that are now rushing to free themselves from the old, difficult, demanding, contentious slaves, they have missed one gigantic element of the equation. Hmmm. What could it be? Can you guess? What could possibly go wrong here?

Fortunately, for us - the freed slaves and factory workers - it turns out we are not just slaves after all. We were just trained to be slaves. So we have a future. If we can adapt to being free. And that is not a joke.

<End joke. I just made this up, nothing about it is true or even remotely serious. />

If Bill Bryson is to be trusted, the loom actually replaced a massive amount of labor. Prior to invention of labor-savings devices, Britain made 32x less cotton fibre. The inventions in this space put tens of thousands out of work, in what was already a difficult job market due to automation. I’m not sure your first paragraph makes sense.

People were dirt cheap, but machines were vastly more productive (and some inventions were stolen so that no royalties had to be paid).

That's not a funny joke.