One subset of artificial intelligence (AI) has the potential to change everything in this rapidly changing field: creative AI. Rather than being limited to solving set tasks, this novel branch of AI can create entirely new worlds that have never been seen before. There are numerous potential applications for generative artificial intelligence (GAI), which could transform various aspects of human life. From creating artistic content to revolutionizing industries, GAI has changed how we think about everything around us. Nevertheless, just like any other powerful tool, there comes responsibility too. Therefore, before developing or deploying any GAI system, one needs to consider ethical principles as well as implications on privacy rights so far. By ensuring responsible development practices and adherence to ethical guidelines, we can maximize the benefits accrued from using such systems while minimizing their negative impacts.