The risk to the global economic system is also oversold. AI enables the same work to be done for a lower cost, and more types of work to be done overall. No different than previous industrial automation. There are vast capabilities in medicine, energy, automated design, manufacturing, and science that are only now being unlocked. Does that sound like something that will crash the economy?
Right now the models actually run most optimally and economically in a data center b/c multiple requests can be batched on a single GPU. This may change of course...
I'm weird and worry about AI x-risk though, so feel free to dismiss me for that if you like.