The best way to regulate AI might be not to specifically regulate AI. This is why

Most of the potential uses of AI are already covered by existing rules and regulations designed to do things such as protect consumers, protect privacy and outlaw discrimination.

These laws are far from perfect, but where they are not perfect the best approach is to fix or extend them rather than introduce special extra rules for AI.

AI can certainly raise challenges for the laws we have – for example, by making it easier to mislead consumers or to apply algorithms that help businesses to collude on prices.

But the key point is that laws to control these things exist, as do the regulators experienced in enforcing them.