The organisation of a smart city system is aimed at achieving the UN Sustainable Development Goals at the local level. This process became a response to quick socioeconomic and environmental challenges faced by cities in the age of digitalisation (including the dissemination of artificial intelligence), global crises, and other factors. Management of the transition to smart cities is ensured with the help of the tools of artificial intelligence, which allows accelerating it and raising its effectiveness, but which also might lead to the emergence of ethical problems. In the course of the study of the aspects of the organisation of the smart city system in the AI economy, we revealed two ethical models that are peculiar to this process. This paper aimed to identify the options of ethical models of organisation of the smart city system in the AI economy with comprehensive consideration of stakeholders’ interests. To achieve this aim, we used the methods of systematisation, comparison, and induction. The scientific novelty of the research consists in determining and assessing the specifics of the ethical models of organisation of the smart city system in the AI economy in the context of consideration of all stakeholder’s interests.