I put "trivial" in quotes because there are obviously some exceptionally large technical achievements that would still need to occur to get here, but suppose we had an AI with a utilitarian utility function of maximizing subjective human well-being (meaning, well-being is not something as simple as physical sensation of "pleasure" and depends on the mental facts of each person) and let us also assume the AI can model this "well" (lets say at least as well as the best of us can deduce the values of another person for their well-being). Finally, we will also assume that the AI does not possess the ability to manually rewire the human brain to change what a human values. In other words, the ability for the AI to manipulate another person's values is limited by what we as humans are capable of today. Given all this, is there any concern we should have about making this AI; would it succeed in being a friendly AI?
One argument I can imagine for why this fails friendly AI is the AI would wire people up to virtual reality machines. However, I don't think that works very well, because a person (except Cypher from the Matrix) wouldn't appreciate being wired into a virtual reality machine and having their autonomy forcefully removed. This means the action does not succeed in maximizing their well-being.
But I am curious to hear what arguments exist for why such an AI might still fail as a friendly AI.
But the AI isn't being dropped into a completely undeveloped society. It will be dropped into an extremely developed society with values already existing. If the AI were dropped back into the era of early man, I could see major concern. I don't see humanity having the values we've developed being radically and entirely changed into something we consider so unsavory by persuasion alone. That doesn't mean no one could be affected, but I can't see such a thing going down without outrage from large sects of humanity; which is not what the AI wants.
You underestimate "persuasion alone". Please consider that (by your definition) all human opinions on all subjects that have existed to date, have been created pretty much "by persuasion alone".
Also, I don't want to live in a world where what I'm allowed to do or be is constrained by whether it provokes "outrages from large sects of humanity". There are plenty of sects (properly so called ;-) today that don't want me to continue existing even the way I already am, at least not without major brainwashing.