Regulations are supposed to help keep corruption and greed driven bad actors from running rampant and misusing new technology.

The problem isn't innovation. It's the extremely wealthy people throwing their money into lobbying against any regulations that would limit how they're allowed to utilize new technology like AI. Can't have things like ethics getting in the way of raking in all that money.

In the US this problem is pretty extreme because we have corporations funding our politicians via things like super PACs. It supposedly doesnt influence any politicians decisions, but we all know it must. People don't throw around that much money during election time for shits and giggles. Somebody is getting something out of it somewhere.