What will come of humans taking conscious control of evolution?

Watch this video where Paul Budnick of www,WhatWillBe.com discusses the scientific implications of evolution crossing the consciousness threshold where bio-diversity becomes able to take conscious control of increasing bio-diversity. What happens when machines are smarter and stronger than man, and able to do virtually any job cheaper and better than even the most exploited slave labor. Will we use the approaching event that Ray Kurzweil describes as a Singularity of Mind to the good of man, or will the rapidly increasing concentration of wealth and power instead use it to create a world of dominance that eventually destroys us by destroying bio-diversity?