AI and the Truth

Various arts and media are becoming overrun with AI generated content. Some are so good that it is becoming difficult to discern the validity. 
What are your thoughts on legislation that would require AI generated material to be watermarked and tagged as such by AI content creators? Legislation that would require platforms like YouTube, Facebook, Tiktok, etc. to make these labels visible to users?

Should there be penalties for distributing material without tags and watermarks for platforms (Facebook, TikTok, YouTube, etc.)?

The goal is not to stiffle art, creativity, or free speech. The goal is to provided notification that the material is just that. Art and/or opinion.

For example: Almost all movies have statements in the credits stating that it is fictional and any resembalance to real people and events is strictly coincidence.