We have not had generative "AI" for decades.
We've had machine learning and expert systems and neural networks. You can run those on powerful, but still obtainable, computers.
GenAI relies on extremely expensive and distributed external compute that only sprawling datacenters can provide and the only way even a government could afford it long-term would be to own it or completely conscript it and pay for it with our taxes while actively taking money away from other projects. You could bankrupt a country trying to feed the beast.
It is not sustainable.
The worst case outcome would be to make it illegal for anybody but the government to use so there is no longer competition for the necessary compute, nationalizing all the companies and technology, then classifying all research. I wouldn't be surprised if the United States tried that but I'm not sure the oligarchs would let that happen.