In the short term, the Industrial Revolution improved life for some people and made it worse for others. In the long term, it definitely improved life.
In the short term, the Industrial Revolution made life better for all the people who were able to buy the things that were made in the new factories. As mechanization made goods cheaper, more people could buy them and life improved. Of course, life did not improve for the workers. They were being worked harder than they had been before and in worse conditions. They were worse off than they had been when they were farmers or artisans working for themselves.
In the long term, the Industrial Revolution improved life for just about everyone. It has allowed us to enjoy the standard of living that we now have.