In this module, first we will briefly look into the revolutionizing and unprecedented opportunities presented by artificial intelligence (AI) to society, especially for the business community. Then we will look into generative AI – the most transformative technology of the last decade – along with its most common types. After that, we will examine the need of data for the generative AI models and the sources of data. Following that, we will explore the risks associated with the AI and a few instances of regulatory actions to address those risks. Towards the end, we will examine the proactive approach of the regulators around the world to develop AI regulatory frameworks and map compliance obligations under existing and upcoming laws. We will end the module by learning how organizations can leverage the PrivacyOps framework to achieve AI governance and responsible use of AI.