In the age of Generative Artificial Intelligence, a heated debate has emerged on whether government intervention is necessary to regulate this groundbreaking technology. The question of whether Artificial Intelligence Technology should be government-regulated is complex, garnering both ardent proponents and fierce opponents.

The European Union took the lead in proposing the AI Act. This approach revolves around assessing AI systems based on their perceived risks. Proponents argue that this strategy is a pragmatic way to protect the public from potential harm. It addresses issues like behavioral manipulation, biometric surveillance, and social scoring, emphasizing the need for accountability. For them, it's a proactive step in the right direction.

Critics of AI regulation argue that it could stifle innovation and hinder global competitiveness. They contend that stringent regulations might slow down AI advancements and make companies less competitive on the world stage, as well as putting the U.S. behind other countries such as China and Russia. They also emphasize that regulations could inadvertently create barriers to entry in the AI sector, potentially consolidating the power of tech giants. 

The question for debate is, should Artificial Intelligence Technology be regulated by the government?