Advances in AI are coming so fast that some experts believe we're already behind the curve in hoping to control a technology that promises much but also could have the capacity to destroy us.

One thing is sure: the effort to regulate AI will grow the size of the government substantially.

The executive order will create several new agencies and task forces and, according to Politico, "pave the way for the use of more AI in nearly every facet of life touched by the federal government, from health care to education, trade to housing, and more."

At the same time, the Oct. 23 draft order calls for extensive new checks on the technology, directing agencies to set standards to ensure data privacy and cybersecurity, prevent discrimination, enforce fairness and also closely monitor the competitive landscape of a fast-growing industry. The draft order was verified by multiple people who have seen or been consulted on draft copies of the document.

The White House did not reply to a request to confirm the draft.

Though the order does not have the force of law and previous White House AI efforts have been criticized for lacking enforcement teeth, the new guidelines will give federal agencies influence in the US market through their buying power and their enforcement tools. Biden's order specifically directs the Federal Trade Commission, for instance, to focus on anti-competitive behavior and consumer harms in the AI industry — a mission that Chair Lina Khan has already publicly embraced.

Biden has pledged that he would make sure "America leads the way toward responsible AI innovation." What exactly would "responsible AI innovation" look like?

Phil Siegel, the founder of the Center for Advanced Preparedness and Threat Response Simulation (CAPTRS), told Fox News Digital. "We should applaud the first step through the EO but quickly need a framework for the detailed steps beyond that truly safeguard our freedoms."