It's called a post-scarcity society and it must be achieved at the same time or slightly before most jobs become automated.
A molecular re-arranger would be the holy grail of a post-scarcity society.
Also, you're not giving enough credit to the human brain. Whatever it does, we can't even get close to replicating it with current computer technology.
Yes, they can emulate a bee or an ant with computers, but that creature doesn't have the ability to reason and come up with ideas, and dream (as far as we know and are emulating).
I think you can also state that machines generally lack the ability to discern expansive context unless explicitly trained to do so.
Granted, it will happen. True AI requires these things. At present all ML needs a push from a human to become more "intelligent."
The bigger question is can we as a species evolve into a more altruistic species and move beyond capital. Some days I don't think we can...
> Machines are incredibly dumb. Even these machine-learning wizz-things. They can do statistics, inferences, correlations.
Do you think human brain does something more? All we can do is statistics, inferences and correlations, and we do it poorly.
Moreover, there is an even bigger problem than 100% automation of everything - namely, the automation of 50% of jobs. What are we going to do with half of the society being unable to find any job? And that most likely includes your or mine parents, siblings and friends, who will no doubt come to us techies for assistance. And if current trends continue, it's 10 years away, not 100.