There's a dystopian definition in the other comment but usually, when people say they're looking forwards to the singularity, they're referring to a version of the future where robots and computers are able to do most of not all jobs, so humans no longer have to work, and can spend all their time doing whatever, usually phrased as painting, singing, dancing, and the other leisure-type activities. Bettering themselves and helping humanity. The utopian, post-scarcity Federation from Star Trek, if you've seen it.
That was not a comment on the plausibility of it. Offering up a definition is still useful so people actually have conversation instead of just talking past each other.
