It doesn't really matter if it's good or bad. The fact is, it's here. If you regulate it in the West, you can be damn sure China will make use of it to gain a competitive advantage, working cheaper, faster and with less mistakes once dialed in. We have to adapt as a society rather than push back.
Even before AI, we were trending towards a situation where a UBI of some sort was necessary, brought on by a mixture of tech improvements and global trade. I'm personally against a merit-less UBI, because I believe it leads to many societal problems, but ultimately I think we're going to need something.
I consider my job relatively safe from AI. It's niche enough that it has already avoided automation, but it's still of a hands-on and real world problem-solving nature, which at least is resistant to AI. But you never know. As recently as a couple years ago, I never thought AI would be able to replace writers, artists, and other creative pursuits, but I believe I was wrong about that now. But right now, I'd be very nervous if I were a bookkeeper, accountant, or even a lawyer. AI is set to be VERY disruptive.
Ultimately, AI has the power to drastically improve humanity's standard of living. But it also has the potential to be significantly abused. As with any major tech disruption, there will be winners and losers.