Is creating an Artificial Intelligence a good idea?

Well? The question asked here is not if we can but should we? Personally, I have thought a lot about a theoretical...as they say "algorithm" (though i hate that word...), anyway, and I am 99% convinced that I can create it, despite the fact that current hardware is'"n't" mature enough (according to some people...) and the limitations of nowadays programming languages. So, if I can create it - what will be the impact? I guess the AI will be...very bitter so to speak - perhaps not destroying earth like in Terminator, but will hardly be friendly. I can count some arguments but i am more interested to hear alternative opinions. Anyway, it will always be interesting to see something much smarter and more powerful than me, even if it destroys earth. 10x!