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This study aims to analyse the ethical implications associated with the development of artificial intelligence (AI) technologies and to examine the potential ethical ramifications of AI technologies.

This study undertakes a thorough examination of existing academic literature pertaining to the ethical considerations surrounding AI. Additionally, it conducts in-depth interviews with individuals to explore the potential benefits and drawbacks of AI technology operating as autonomous ethical agents. A total of 20 semi-structured interviews were conducted, and the data were transcribed using grounded theory methodology.

The study asserts the importance of fostering an ethical environment in the progress of AI and suggests potential avenues for further investigation in the field of AI ethics. The study finds privacy and security, bias and fairness, trust and reliability, transparency and human–AI interactions as major ethical concerns.

The implications of the study are far-reaching and span across various domains, including policy development, design of AI systems, establishment of trust, education and training, public awareness and further research. Notwithstanding the potential biases inherent in purposive sampling, the constantly evolving landscape of AI ethics and the challenge of extrapolating findings to all AI applications and contexts, limitations may still manifest.

The novelty of the study is attributed to its comprehensive methodology, which encompasses a wide range of stakeholder perspectives on the ethical implications of AI in the corporate sector. The ultimate goal is to promote the development of AI systems that exhibit responsibility, transparency and accountability.