AI (Artificial Intelligence) is the technology that is determined to be present in our lives and facilitate the way we carryout work. The algorithms working on complex data would have huge impacts on results and outcomes. Already we have started using and experiencing the quick follow-ups of our preferences though advertisements and messages. We have Apple’s Siri; Amazon’s Alexa; Microsoft’s Cortana and Google’s Assistant already who have become our helping hands. AI offers neutral networks with deep learning capacity. ‘India is world’s largest markets for AI-related technologies, valued at over $7.8 billion in 2021’ (Source: Ramos, The Hindu, 22 July, 2022 P 7). NITI Aayog released its national strategy on AI in 2018. It highlights the massive potential of AI in solving complex social challenges faced by Indian citizens in various areas. It also led a campaign #AIForAll so that it is easily adopted with common humanistic values. The need however is to incorporate such measures into our study. Mainly, in the subjects related to communication and media. So that AI is adopted and implemented ethically and in constructive way. Such incorporations would also help to do away with various doubts existing the minds of people. AI systems should not be used for social scoring or mass surveillance purposes; particular attention should be paid to the psychological and cognitive impact that these systems can have. It is these areas which need to be studied especially with reference to media and communication as social media has made deep inroads into the psyche of individuals. Until recently, there is no global strategy to take forward this important agenda related to ethics. “UNESCO’s recommendations on the Ethics and Artificial Intelligence, aims to fundamentally shift the balance of power between people, and the businesses and governments developing AI. Indeed, if the business model of how these technologies are developed does not change to place human interest first, inequalities will grow to a magnitude as never before in the history; access to the raw material to the is data is key.” (Source: Ramos, The Hindu, 22 July, 2022 p 7). It is important that the governments invest in and promote not only digital, media and information literacy skills but also socio-emotional and AI ethics, skills to strengthen critical thinking and competencies in digital era. This is also important in building accountability and ensuring transparency in using AI related technologies. Global media ethics would have to be drawn to be strictly followed, when it comes to AI, as it would have impact on the humanity and human race and would generate existential crisis for humans, if not regulated. Media and communication shall have to play a constructive role. AI along with metadata are going to pose a challenge where technology is taking strides at cutting edges for creating new technologies at an ever-faster pace and global ethics are developing at a meager slow pace. Metaverse spaces may be virtual but have started giving real experiences. One of the biggest threats right now is that Metaverse is not regulated by any government or security establishments. Recent case of Google firing Timnit Gebru over her warning on their unethical AI, has caused ripples in social media. The global powers need to have common grounds for making laws and regulating the AI for the benefit of humanity. There is need to develop a framework to establish and update legislations related to regulatory frameworks and policies embedded in humanistic principles. Such frameworks would help in minimizing the risks and would help in harnessing the full potential of AI in the good of all. This is a study with descriptive and exploratory research and would put light on various aspects of AI and Metaverse in communication and media spaces and the specifying the areas which would need for regulatory frameworks. The secondary data from published material supported by the primary data collected through survey using questionnaire as tool of data collection, would be able to put light on how AI and Metaverse posing threat to the users. Based on the study the required areas for regulatory framework would be deducted. How the virtual space with close real experiences is going to impact is the big question and needs to be looked into.