Well, the singularity will never happen.
The people who hypothesize about computers being smarter than people also think that the brain is where thought happens.
Any level of deep meditation disproves that, and such, even if we built a computer with as many gates as a human has neurons, it will not be anywhere as capable.
However, as you have indicated, AI is already controlling a lot of our lives.
Our phone system, our internet, our electrical grid. These are all very complex machines that work on its own logic. They have in the past gone rogue. There is no guarantee that they will not in the future.
The stock market is run by AIs.
Everyone's retirement account hangs in balance of what an AI will do.
Most factories are run by an AI.
From as simple as ordering and shipping software, to programs that decide which order to paint which cars.
And as you have stated, the banks are all driven by AI. Most of the people who are supposed to manage those AIs know almost nothing about what they are really doing.
Boogle is an AI. And it already decides what things will be seen and what things will not. My favorite, trying to find specific Corbett Report episodes. Even with an almost exact title, the result looked for is not on the first page.
The problem, from my viewpoint is that computers are very poor tools. A hammer is a good tool. You know exactly what it does. With computers, you do not have control over anything. People have started putting shutters over their cameras because, some program may start using it when they do not know about it.
The problem isn't the AI, it is really that we are given no control, nor feedback.
I agree. Thank you for your frank assessment as well. Great points that I hope others will evaluate.