[Mistletoe]

Why are regulations bad? When there are no regulations the results are usually not pretty. Current big tech dystopia, stock market crash of 1929, UK textile mills worked by children in the Industrial Revolution...

Why should we expect AI to not repeat the same abuses and errors?

[blihp]

Knee-jerk regulations rooted in emotion and ignorance are bad. When there are bad regulations the results are usually not pretty (i.e. they tend to fail to achieve their stated objectives) and all they end up doing is protect the established players from competition as only they can afford the cost of compliance.

[visarga]

> Why are regulations bad?

Depends, do you mind not being allowed to have AI without surveillance?

[pc86]

Regulations are good when they're made by smart people who are experts in what they're regulating, with an eye toward creating an environment of fair competition, and perhaps protecting US interests for things like export controls, etc.

Regulations are bad when they are made from a position of emotion, partisan hackery, protectionism of either incumbents as we are likely to see here or specific industries/sectors, or written by out of touch, mentally declining octogenarians (I don't mean Biden, I mean half of Congress, of both parties).

Are there any executive agencies or legislative committees qualified to regulate development of AI? I just mean on basis of knowledge and education, not authority.

[rqtwteye]

"Are there any executive agencies or legislative committees qualified to regulate development of AI? I just mean on basis of knowledge and education, not authority."

Agencies and committees are full of very smart and conscientious people who are able to understand an issue and create reasonable regulations. Problem is that political leadership usually messes up things by going with ideology or lobbyist interest.

[jonhohle]

Unintended consequences. Power surrendered by the people is not easily recovered.

[surgical_fire]

This presumes that without regulations the people have the power.

In truth, without regulation, the power is at the hands of the ultra wealthy corporations and their overlords. Petty tyrants in the making, all of them.

[Kbelicius]

How is someone on HN against innovation.... blows my mind.

There are unintended consequences with innovation too.

[dimitrios1]

Regulations carry a cost of compliance. When regulations are being clamored for by the big players, I can pretty much guarantee you it is not out of altruism.