Why should we expect AI to not repeat the same abuses and errors?
Depends, do you mind not being allowed to have AI without surveillance?
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.
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.
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.
There are unintended consequences with innovation too.