With AI scaling at a tremendous rate in the last few years and no sign of slowing down, there is an increasing need for an open discussion around the ethics and trustworthiness of AI, including regulatory and legal risks. From Deepfakes which have facilitated million-pound fraudulent bank transfers to harmful gender stereotyping and racial bias, it is clear that we need regulations in place to create a safer, fairer world for everyone. To progress, we need to heighten our awareness around the changes that AI demands in our thinking, especially as, according to Gartner, by 2022, 85% of AI projects could deliver erroneous outcomes due to bias in data, algorithms, or the teams responsible for managing them. If we don't, AI may trigger embarrassing situations, erode reputations, and damage businesses. However, there are also tremendous grey areas with regulation, with little consensus on how it should be done and most importantly, who should make the rules.