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This article investigates the societal impacts and regulatory challenges posed by the rapid advancement of artificial intelligence (AI), particularly about fundamental rights and international cooperation in AI governance. Through a thematic analysis of recent literature, policy frameworks, and regulatory efforts, such as the EU AI Act, this article explores the transformative benefits of AI in healthcare, education, and employment and the ethical and human rights concerns it raises. Key considerations include the transparency, accountability, and biases inherent in AI systems, which can lead to discrimination, privacy infringements, and socio-economic disparities. This article identifies areas where international collaboration could support fair and inclusive AI development by examining the roles of the EU, G7, and other global actors in creating ethical AI governance frameworks. The findings emphasize the need for adaptable regulatory frameworks that address AI's social and ethical risks, balance innovation with rights protection, and involve multi-stakeholder participation to ensure AI's alignment with fundamental human rights. [ABSTRACT FROM AUTHOR]