Yes. The institution in question is human society. We generally grant the permission to make rational decisions over our lives to other humans who know better that we do or are more skilled than we are.

Sometimes, yes, those humans turn out to have been deceitful or dishonest, but there are mechanisms in place for when that happens.

And yes, sometimes those mechanisms are wilfully avoided by the deceitful. Politicians and rich people are especially good at this.

Guess who's pushing "AI"? The thing that has no contract with human society and cannot be held accountable. And neither will the people pushing it.

This is why we should have as little to do with it - at least as it is in its current form - as possible.