This paper elaborates on the ethical aspects of innovations management in the context of the AI economy and possibilities of ensuring balanced compliance with stakeholders’ interests, analyses the structure of the AI economy as an economic and socio-technological system in which technological core interacts with the elements of macro-environment, reveals the dualistic nature of AI as a driver and result of innovative processes which ensures large-scale transformation of the traditional system of innovations management, and characterises institutional, economic, and technological mechanisms of agreement of stakeholders’ interests, which form potential for effective implementation of ethical norms during the development and use of innovations based on AI. The methodological framework of this research is formed by the system approach, which combines the foundations of innovative management, neo-institutionalism, digital transition, and theories of open innovations and stakeholders. The information framework of the research is formed by scientific and export publications, standards, and provisions of the regulation of the ethical use of AI. The methodology is presented by the system approach, analysis, comparison, observation, generalisation, and the graphical method. The main value of the paper consists in determining the mechanisms of ensuring the ethical approach to innovations management in the conditions of the AI economy, which allow achieving the balance of stakeholders’ interests. The provided provisions are based on understanding ethical issues of the use of AI not from the positions of restrictions of innovative development but from the position of internal resources, which forms additional potential for raising the value of innovations.