“But AI in the wrong hands is an existential threat. Regulate/monitor/control/legislate this monster before it’s too late.”
Intrusive, all powerful government is a much more existential threat. Governments with too much power have murdered millions of people and deprived hundreds of millions more of their rights, while AI has yet to actually commit any such atrocities.
I get all that government is the problem stuff.
Go watch/research/investgate ARTIFICAL GENERAL INTELLIGENCE. Then decide if you want it in the hands of any one individual or corp. Do your homework, then decide. I did and I decided.