Due to the development of AI-based models and technologies, ethical AI concepts are needed. Ethical AI helps in the development and deployment of AI-based technologies and models. In this context, this chapter explains the guidelines for ethical AI and also defines the best industry practices for the inclusion of ethical AI. Further, it explains the importance of the inclusion of ethical AI in the model development lifecycle. Also, the chapter analyzes ethical testing and validation steps in detail. This chapter also examines the importance of ethical decision-making. Along with this, this chapter also studies the impact of ethical AI on society. As this chapter analyzes all the parts of the AI development lifecycle, it will help researchers and industry professionals to understand the importance of ethical AI.