Most governments in the world will be wholly incompetent with any sort of regulation for AI. It will not matter if there are people out there with good ideas to regulate AI or even decent laws for regulation.

Governments are well placed to continue serving the public IF wealthy businesses and individuals pay appropriate tax levels. Don’t be fooled into thinking there is any reason for ‘austerity measures’ or other such nonsense when there are plenty of profits to go around. Regulated capitalism works, but without enough regulation it will fall apart for sure. Right now the US is too unregulated at the moment IMO, too much control by the wealthy. I think we’d all be surprised how quickly things would change in the US for the better if we ever saw national strikes for things like Medicare for All. The kinds of strikes like we see in Europe from time to time.