This paper explores the relation of Artificial Intelligence (AI), ethics, and responsibility in the contemporary era. It investigates global AI regulatory frameworks, particularly focusing on Portugal's approach, and considers the urgent need for ethical considerations in AI development. The paper aims to answer the three key research questions: 1 - How do global AI regulatory frameworks influence ethical considerations and responsibilities in AI development, and how does Portugal's approach compare?; 2 - What is the role of Chief Ethical Officers (CEOs) in promoting ethical AI practices within organizations, contributing to risk mitigation and user trust?; 3 - Where does the responsibility lie in ensuring the ethical development and use of AI, and how can a distributed responsibility model be established among AI stakeholders and organizations?. It also emphasizes the importance of AI regulation and its implications for both organizations and consumers. It seeks to provide insights into Portugal's regulatory approach, considering economic factors and the broader global context, and highlights the opportunities and challenges presented by AI regulation. Ultimately, the paper aims to contribute on AI governance, making a comparison between innovation and responsibility, with a focus on ethics. In order to support these findings, it was conducted a small case study to Portuguese AI users, working in a portuguese organization.
