There is the need to establish a global AI regulatory watchdog as AI cannot be governed like any previous technology. The future positive or negative effects of AI will depend on what policymakers do now. The current action of policymakers will heavily influence whether AI will cause positive advances or negative disruptions, how it will influence the structure and balance of global power. Globalization is no longer a phenomenon driven only by the economy, but is part of a new context where political risk dominates. Regulatory efforts to date are in their infancy and still inadequate. At least three AI governance regimes—each with different mandates, levers, and participants—can be devised. In June 2024, the EU adopted the world’s first rules on AI. In March 2024 the UN General Assembly adopted a landmark resolution on the promotion of safe, secure, and trustworthy AI systems.