It does feel like we are driving into a blind corner at full speed. It could end us all but the upside potential might also be beyond imagining. Imagine it super-charging medical research and making you live to age 200. It sounds impossible that you would ever make it to that age now, but there may well be no obstacles to this other than a present lack of knowledge. Much like the laws of physics never prohibited us from sending messages across the ocean in a fraction of a second, but for centuries it seemed impossible because we lacked the required knowledge.
An AI research ban is hopeless because it is unenforceable when all you need is a server farm that can be kept hidden easily. Nobody will trust all other companies/countries to not be working on it in secret and they will all conclude that if it's coming, they want to be the first ones to have it. Couple that with the potentially unlimited upside and there is no way anyone is going to stop research.
This long-form article was really popular when it came out in 2015 and having recently re-read it, it seems more relevant than ever. Worth a read if you missed it.
Part 1 of 2: "The Road to Superintelligence". Artificial Intelligence — the topic everyone in the world should be talking about.
waitbutwhy.com