I don't think it's an easy thing to predict.
1. Business leadership wants to use AI to replace the most expensive and most replaceable labor first, as much as possible -- corps don't want to create more jobs, they want to destroy as many jobs as they can to expand their profit.
2. AI companies want to build systems that can replace as much labor as possible, as fast as possible with the fewest errors and no unfavorable disruption or catastrophic impact on existing systems. <-- the most chaotic and unknowable
3. Government wants economic growth and a broader tax base to drive more spending and beneficial inflation. They also don't want other countries to get access to that technology and don't want tech corporations consuming their share of power.
4. Labor wants plentiful high paying and secure jobs that are fulfilling and have a good work/life balance so they can afford a mortgage, car payment, petty luxuries, and save/invest for the future.
I think it follows from this that labor is furthest downstream and will be forced to adapt to whatever business leaders decide that governments enforce. As AI replaces more jobs, the shrinking pool of human jobs will find a glut of overqualified people looking for work, driving wages down. Anger, wage/inflation migration, unionizing, pressure on legislators should grow along with the misery index. Deflation in consumer goods should continue as discretionary income disappears. Either you figure out how to independently earn money, accept a criminally low wage, or leave the country to find employment in another, more human-based economy. AI is advancing too fast for most people to even grasp it let alone adapt to benefit from it. At the point that we can plug in our brain directly to a computer and have our own AI organ attached to us far in the future, that will change (see neuralink) assuming that AI labor starving out meat brain wage labor doesn't entirely destroy the birth rate by that point.
If the majority of the labor pool doesn't have money to pay for anything, then companies which depend on them as customers should suffer or collapse as prices fall due to elasticity of demand changes unless AI adoption and automation allows those products to be produced far more cheaply elsewhere. There should be a big lag between goods prices falling faster than production costs that hurts retailers and producers/manufacturers in particular.
The money that businesses save from having to employ fewer humans save on infrastructure and use that savings to continue fueling the arms race with competitors for AI-driven marketshare. They will have the buying power to gobble up assets formerly owned by wage earners and the failed companies that used to serve them. Those corporations, like "robber barons" of the past will gobble up everything and anything they can, and will also be able to wield significant political power everywhere as a result.
They will fight taxation and regulation structures proposed by the government as much as possible, but since AI is of national security importance, the state will pull rank and highly regulate or restrict advancements which they want to keep from competitors. This is probably why government and corporations are becoming more and more interlinked, producing a unipolar ruling techstate class as threats from global nations, companies, rogue elements, and "loose" AI programs threaten the entire system.
The AI arms race fuels more spending on the AI arms race, which means AI will be used more and more to make the supply chain and infrastructure of the communications and energy systems more efficient and profitable. Innovation, capital, commodities will all converge on this network of networks because that's where all the demand, profit, and returns will be. Pluralities (mini-singularities) will form in each nation state, then the singularity will emerge from mutually assured destruction eventually.