Unraveling the Ethical Quandaries of AI $($MO$1-2)$

AI technology, such as generative AI$,$ are powerful tools reshaping the information systems landscape. However, they bring forth serious ethical considerations. Please explore these issues, with following questions:

What are the potential risks and ethical dilemmas posed by AI in terms of content generation and data privacy?

How should information systems handle the 'black box' problem in AI$,$ and the associated accountability issues?

Can current AI ethics guidelines and regulations keep up with the rapid advancements in LLMs$?$