With the increasing integration of generative AI, such as ChatGPT, into daily life, the potential negative influence of this technology on human lives warrants attention. The current study employs the third-person effect (TPE) as a theoretical framework to investigate the impact of individuals’ ChatGPT use experience and AI literacy on their third-person perception of generative AI risks. Furthermore, it investigates whether these factors affect the support for government regulation of AI technology. The sample was divided into Generation X, Millennials, and Generation Z to explore the variations in AI risk perceptions and responses across these generations. This study analyzed data from the 2024 Taiwan Internet Survey (N = 974). The results revealed that all three generations exhibited a tendency toward the third-person perception, perceiving that the risks of AI technology as having a greater impact on others than on themselves. However, ChatGPT usage did not significantly predict the third-person effect across any generation. AI literacy had a significant negative impact on the third-person only within Generation X. Furthermore, ChatGPT usage exerted a significant negative influence on attitudes toward AI regulation among Millennials and Generation X. In contrast, AI literacy had a significant negative impact on such attitudes among Generation Z. Notably, the third-person perception failed to exert a significant impact on attitudes toward AI regulation across three generations. These findings contribute to a better understanding of Taiwanese citizens’ risk perceptions regarding generative AI and can serve as a reference for policymakers in formulating relevant policies