2023 will be a year when generative AI, most notably ChatGPT, turned AI from a buzzword to a mainstream tool. ChatGPT proves that AI can engage in creative tasks, previously thought impossible for it. ChatGPT can now answer questions, write reports and stories, and even compose music. But the pace of the advance of AI has raised calls for regulation and outright pauses in its development. Now, the EU and China have proposed standards and regulations on how they would like to manage AI. The speed at which AI and other emerging technologies can outpace regulation remains an uncertainty in urgent need of addressing as we head into 2024.