AI is transforming various sectors, from business operations to global governance. Businesses are leveraging AI as a Service (AIaaS) to access advanced technologies without extensive in-house resources, enhancing decision-making and operational efficiency. Knowledge distillation techniques are enabling the use of smaller, efficient AI models on edge devices, making AI more scalable and accessible. The UN has introduced a comprehensive framework for AI governance, emphasizing transparency and accountability. Countries like Rwanda and Singapore are leading AI governance initiatives to ensure equitable technology integration. Additionally, grassroots efforts in India are focused on building large language models in local languages to democratize AI access.