Is today's AI simply automated capitalism?

Hi I'm new here so sorry if my question comes across as naive.

I've been thinking about how new technologies offer a range of promises to improve society which then are reduced to instead serve the established hegemonies as the technologies in question get widely distributed.

Like the Internet which promised a world of shared knowledge and is now mostly reduced to proprietary content, i feel AI promises a lot of social improvements but its mainly used to increase profits and cut down regular jobs.

Is this feeling shared by many here?