I'm still blown away by what many of the LLMs can do, but I'm not fooling myself into thinking that they're more than extremely flexible functions. You put in a query and get an answer. How are they that different from any search engine or web site?
When the Internet first bloomed, a hands-off ethic appeared and took hold. Let's not regulate or tax any of it lest we kill it. But now there are significant groups-- often from the establishment players -- who are concocting scary what-if narratives that seem pretty unlikely to me.
How about we just try the "slow regulation" approach again? It worked pretty well for the Internet. We've slowly added some laws with the utmost care not to destroy and, over all, it's worked. Let's do the same with AI.