Managing the race to the moon: Global policy and governance in Artificial Intelligence regulation—A contemporary overview and an analysis of socioeconomic consequences

Abstract This paper delves into the complexities of global AI regulation and governance, emphasizing the socio-economic repercussions of rapid AI development. It scrutinizes the challenges in creating effective governance structures amidst the AI race, considering diverse global perspectives and policies. The discourse moves beyond specific corporate examples, addressing broader implications and sector-wide impacts of AI on employment, truth discernment, and democratic stability. The analysis focuses on contrasting regulatory approaches across key regions—the United States, European Union, Asia, Africa, and the Americas and thus highlighting the variations and commonalities in strategies and implementations.…