I think the worst possible outcome is a licensing regime that means that Disney or Paramount or Elsevier or whoever all get to have a monopoly on training large models within their niche. My guess is that any successful calls for regulation will have this outcome, which means that individuals won't be able to legally use AI-based tools except when creating works for hire, etc.
Currently, I think most of the training use cases can be covered by the existing "you can't copyright a fact" carve out in the law. That's probably better for society and creators than my licensing regime scenario.
Anyway, I'm rooting for "no regulation" for now. The whole industry is still being screwed over by market distortions created by the DMCA, and this could easily be 10x worse.
Currently, I think most of the training use cases can be covered by the existing "you can't copyright a fact" carve out in the law. That's probably better for society and creators than my licensing regime scenario.
Anyway, I'm rooting for "no regulation" for now. The whole industry is still being screwed over by market distortions created by the DMCA, and this could easily be 10x worse.