This panel discussion will delve into the fundamental questions of why ethics and regulation are paramount in the context of AI, with a specific focus on Generative and Conversational AI. It will explore the unique ethical and regulatory challenges posed by Conversational AI projects, emphasizing the importance of transparency in customer interactions with AI-based assistants. The panel will provide key insights into best practices for companies embarking on Gen. AI projects, highlighting the essential steps for responsible and ethical AI deployments.