Choose a jurisdiction $($e$.$g$.,$ European Union, United States, or China$)$ and provide a detailed overview of its existing AI regulation policies or initiatives. Include the objectives, scope, and key provisions of these policies$/$initiatives$.$ Analyze the effectiveness of these regulations in addressing key ethical issues associated with AI$.$ Consider aspects like data privacy, fairness, accountability, and transparency. Identify and discuss any notable gaps or controversies in the chosen jurisdiction's AI regulatory framework. Present a case study where these regulations have directly impacted AI application in the real world. Provide recommendations for improving the current AI regulation policy, keeping in mind technological advancements, ethical implications, and global best practices.