I'll be the negative nancy and say that I think it's more likely we see an acceleration of the current trend. If we're talking about students, the top students will be doing as well or better than today but the median might see a big regression.

I have friends who work in primary education and they say there's definitely been some sort of decline in cognitive skills. A lot more kids struggle with holding attention and thinking outside of the box.

I think too much screen exposure has been terrible for the average child.

I definitely don't disagree with screen or exposure or social media exposure being deleterious.

That said, I suspect this technology will allow us to study and mitigate those effects in ways we weren't previously capable of. That's in addition to the other broad swathe of things that should make us healthier and more intelligent (see some of my other posts here). I'm not particularly negative about our chances.

If the top students are doing better, especially if it is significantly better, I think that can be a net positive outcome. If you look at the distribution of contribution to society it's not like it's remotely even and there is an argument to primarily focusing on and pouring most of our resources into the top Nth percent instead of trying to slightly improve everyone.