What is missing in the Omega Team scenario?
I feel that the story of the Omega Team is only missing two things, resistance and an actual apocalypses. In the reading it shows how Omega team and Prometheus basically took over the world. I feel that if something like this would happen in reality there would be more resistance. For example in phase 1 there were making millions of dollars a day by taking advantage of the .Amazon Mechanical Turk. Or maybe someone would have notice that all of the media outlets where being bought by the same company but under different aliases. The second thing that was missing was destruction. Usually in stories when Ai becomes all powerful it decides to enslave or destroy humanity. In this case Ai takes over and things people are actually happy.
What went wrong?
In the sense of the Omega Team and Prometheus everything went well. But for everyone else the thing that went wrong was that with basically unlimited funds and resources Prometheus started to buy and own everything, becoming all powerful.
What do we need to do to avoid the undesirable outcomes and maximize potential desirable outcomes?
On what is desirable and undesirable is really up to perspective. On one hand Ai controls everything but on the other hand people are happy. If the desirable outcome is to have Ai without it taking over everything I would say that we have to be careful on who develops Ai and how fast it grows. In the reading it shows how Prometheus at first was awful at writing stories but after some time it perfected its craft. If left unchecked all stories will be written by Ai. We need checks and balances and most importantly a human touch. There should be certain things that Ai should not be allowed to control.