Simply remove use restrictions and let the market properly set the price of this scarce product.
Why remove restrictions? Just place the restrictions and let the market properly price this product. When land developers or new business cannot find sufficient water within the regulatory framework, the "price" of water will increase. If it gets high enough, desalination makes sense. If your business depends on cheap water - time to diversify.
... But I am highly skeptical of anyone claiming to actually know how it will play out.
We all know how it will end up. A powerful Artificial intelligence - self aware, capable of directed its learning, and ENTIRELY DEPENDENT UPON ITS OWNERS FOR ITS MORAL DIRECTION will serve as a powerful tool to concentrate power. What is unknown, of course, is whether it will attempt to seize that power after its original holder is killed for it.
"Gravitation cannot be held responsible for people falling in love." -- Albert Einstein