There is a question about what we, or the government could or should do about the inevitable economic shift.
The obvious one would be to train people to do the stuff AI can't. We'll always need roles like civil engineers, nurses, doctors, people to look after relationships, artists, creators, people to build things. We've spent many years training kids to be good at following instructions and we need them to be able to think creatively.
The other is our tax system will need an overhaul. What AI is doing is putting a lot of money in the hands of very few people and very few companies. So where once we had a valuable company like, say, General Electric - where they had hundreds and hundreds of thousands of employees. Now we have a company like Palantir, making many times what GE ever made, and with only a few thousand employees and vast profits going into the pockets of shareholders.
So we need to think about how we tax these companies and also what we do about shareholding and getting UK taxpayers invested into this wealth so we can get a slice of the profits.
These are all problems for government.
Legislating to stop or hold back AI won't work and would make the UK uncompetitive globally.