Fine, it is not effectively what happened then. It is worse. At least workers are required to run factories (even though working conditions were ridiculously horrible back then). With AI, in maybe 20 years, 95% of all white-collar workers will be economically irrelevant. You won't need accountants, or programmers, or designers. And we can't all become lawyers and surgeons, or tradesmen.

The Industrial Revolution indeed did not completely eliminate the need for a human workforce. The AI Revolution will.