  This article addresses the societal costs associated with the lack of
regulation in Artificial Intelligence and proposes a framework combining
innovation and regulation. Over fifty years of AI research, catalyzed by
declining computing costs and the proliferation of data, have propelled AI into
the mainstream, promising significant economic benefits. Yet, this rapid
adoption underscores risks, from bias amplification and labor disruptions to
existential threats posed by autonomous systems. The discourse is polarized
between accelerationists, advocating for unfettered technological advancement,
and doomers, calling for a slowdown to prevent dystopian outcomes. This piece
advocates for a middle path that leverages technical innovation and smart
regulation to maximize the benefits of AI while minimizing its risks, offering
a pragmatic approach to the responsible progress of AI technology. Technical
invention beyond the most capable foundation models is needed to contain
catastrophic risks. Regulation is required to create incentives for this
research while addressing current issues.
