Artificial Intelligence (AI) is one of the most transformative technologies of the 21st century, offering immense opportunities alongside significant challenges. On the opportunity side, AI has revolutionized healthcare through early disease detection, personalized treatment, and accelerated drug discovery. It enhances business productivity, drives innovation in education through adaptive learning systems, and improves user experiences via virtual assistants and smart automation. However, AI also poses serious threats. Widespread automation risks large-scale job losses, while biased algorithms can lead to unfair discrimination in areas such as hiring or law enforcement. Moreover, the lack of transparency and accountability in AI decision-making raises ethical concerns, especially when these systems influence critical aspects of human life. Surveillance technologies powered by AI threaten personal privacy, and some experts even warn about long-term existential risks if AI surpasses human intelligence without proper controls. Ultimately, AI is both a tool for progress and a potential source of harm. Its impact depends on how we choose to develop and regulate it. Ensuring ethical use, creating inclusive policies, and preparing the workforce for an AI-driven future are essential to making AI a powerful force for good rather than a looming threat.