AI needs regulating because the big tech companies have got too big for their own good. And like every other industry sector before it that has got too big – the banks, the oil companies, the telecom firms – regulation is needed to ensure the public good. To ensure that we all benefit and not just the tech elite.
We’re beginning to see the corrosive effects of Facebook’s algorithms on political debate, of Amazon’s dominance of the retail sector, and of Google’s monopoly on search. And it’s hard to know where to begin with a company like Uber. There’s just so much to criticise.
However, the problems today are not caused by super smart AI, but stupid AI.

Source : Elon Musk is wrong. The AI singularity won’t kill us all | WIRED UK