This article provides a comprehensive analysis of governmental regulation and ethical considerations for the development and deployment of artificial intelligence (AI). It begins by examining the evolution of AI governance frameworks, from early self-regulatory approaches and ethical codes of conduct to more formal regulatory acts introduced by national and transnational bodies. Drawing on current policy discussions, the paper highlights the legislative “lag” in addressing AI’s rapidly evolving applications and underscores the need for dynamic, risk-based, or iterative regulatory models. The discussion then moves to ethical imperatives, notably explainability, accountability, fairness, and security, emphasizing how these principles can be integrated into corporate social responsibility (CSR) strategies. Particular attention is devoted to the role of transparency and inclusiveness as crucial elements in mitigating algorithmic biases and preserving human rights. The paper also presents examples of hybrid governance mechanisms that combine legal instruments with voluntary industry standards, and illustrates case studies such as Singapore’s AI Verify framework, the EU’s proposed Artificial Intelligence Act, and the U.S. AI Bill of Rights. Finally, it elaborates on the long-term challenges posed by continuously advancing technologies, diverse cultural values, and geopolitical interests. The conclusion argues that effective AI governance requires an interdisciplinary, multi-stakeholder approach to ensure legal certainty, encourage innovation, and maintain public trust. It calls for ongoing collaborative efforts, policy updates, and empirical research to refine governance tools that can respond to AI’s unprecedented rate of change.

AI Governance, Ethical AI, Regulatory Frameworks, Explainability, Corporate Social Responsibility, Hybrid Regulation, Risk-based Models, Algorithmic Bias, Transparency, Multi-stakeholder Collaboration.

Dwivedi, Y. K., Hughes, L., Ismagilova, E., Aarts, G., Coombs, C., Crick, T., ... & Williams, M. D. (2021). Artificial Intelligence (AI): Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice and policy. International journal of information management, 57, 101994.

OECD. (2019). Recommendation of the council on artificial intelligence. Organization for Economic Cooperation and Development https://legalinstruments.oecd.org/en/instruments/oecd-legal-0449

EU. (2021). Regulation of the European Parliament and the council laying down harmonized rules on artificial intelligence (artificial intelligence act) and amending certain union legislative acts. European Commission https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A52021PC0206

Microsoft. (2022). Responsible AI Standard v2 (final). https://www.microsoft.com/ai/responsible-ai.

De Almeida, P. G. R., dos Santos, C. D., & Farias, J. S. (2021). Artificial intelligence regulation: a framework for governance. Ethics and Information Technology, 23(3), 505-525.

AI HLEG - High-Level Expert Group on Artifcial. (2019b). Ethics guidelines for trustworthy AI. High-level expert group on artifcial intelligence for the European Commission.

Camilleri, M. A. (2024). Artificial intelligence governance: Ethical considerations and implications for social responsibility. Expert systems, 41(7), e13406.

IEEE. (2023). IEEE introduces new program for free access to AI ethics and governance standards. Institute of Electrical and Electronics Engineers https://standards.ieee.org/news/get-program-ai-ethics/

European Commission. (2019). Communication from the Commission to the European Parliament, the Council, The European Economic and Social Committee and the Committee of the Regions. Brussels. https://www.eea.europa.eu/policy-documents/communication-from-the-commission-to-1.

Taddeo, M., & Floridi, L. (2018). How AI can be a force for good. Science, 361(6404), 751-752.

Nation, S. (2019). National Artificial Intelligence Strategy: Advancing our smart nation journey. Smart Nation and Digital Government Office https://www.smartnation.gov.sg/initiatives/artificial-intelligence/

Buhmann, A., & Fieseler, C. (2023). Deep learning meets deep democracy: Deliberative governance and responsible innovation in artificial intelligence. Business Ethics Quarterly, 33(1), 146-179.

House, W. (2022). Blueprint for an ai bill of rights: Making automated systems work for the american people. Nimble Books.