Current AI systems do not generate, they remix. I'll be impressed when they create something original. The idea of magically creating complexity from a simple text prompt is silly. The text would need to be as complex as the desired result. Given the poor quality of much of today's media, AI could probably equal them soon. So to answer the question, it will lead to vast quantities of boring crap

There are truly exciting things I believe AI will do. Complexity in software is cancer and it's getting worse. I don't see AI writing useful, complex software from a simple text prompt, I see an AI assistant that helps programmers manage complexity, find unintended side-effects, unplanned dependencies, edge cases, undefined behavior and other things that human programmers have problems with

In politics, we currently have a mess, where every politically active person or group tries to predict the result of legislation they support or oppose. Prediction is hard, and laws most often fail to achieve their stated purpose. An AI based political simulator could give us better insight into the real effects of laws before they are passed