Artificial intelligence (AI) is here to stay, not just to stay but to rule, in the times to come. Its going to be a major game changer and a huge disruptor in every arena of human life - health care, politics, education, defense , legal and executive systems et al. If the experts take is to be believed then while it aims to make human life easier and happier, it has all the potential to be diabolic , self-perpetuating and self serving. According to some , it may prove to be a new techno-demon unleashed to make human lives complicated with its infinite capabilities to erode democracy , trust and civil liberties . So, when Elon Musk says “AI is far more dangerous than nukes, ” it needs to be taken seriously . Stephen Hawking had similar views when he told an audience in Portugal that AI’s impact could be cataclysmic unless its rapid development is strictly and ethically controlled. “Unless we learn how to prepare for, and avoid, the potential risks…AI could be the worst event in the history of our civilization,” he warned. Research fellow Stuart Armstrong from the Future of Life Institute terms AI as an “extinction risk” were it to go rogue. Even Nuclear war has relatively lesser risk because it would “kill only a relatively small proportion of the planet. “If AI went bad, and 95 percent of humans were killed,” according to him . There are already signs on the horizon when AI has showed utmost bias towards people of colour or aged . Therefore , there is an immediate need for the governments to come up with an all-encompassing Policy and Regulatory Framework aimed at building an enabling and flourishing echo system towards cultivating and harnessing a responsive and ethical AI. And the time starts now .