As technology continues to evolve, the rapid development and increasing prevalence of artificial intelligence (AI) in our daily lives have sparked global discussions on the ethical implications of these advancements. The task of navigating the moral and legal compass around AI is complex, requiring effective policies and robust governance models.

The Ethical Quandary of AI

At the heart of the artificial intelligence debate is a tangled skein of ethical issues that cannot be isolated from the technologies themselves. From privacy concerns, bias inherent in algorithms, to job displacements and the digital divide, this technological revolution brings about multifaceted challenges that demand responsible solutions.

Why AI Policy and Governance Matters

The development and deployment of AI aren't just technical; they affect people, societies, and the world at large. AI policy and governance are crucial in ensuring fair practices, mitigating risks while maximizing benefits, maintaining a global perspective, and fostering an environment conducive to innovation without infringing upon human rights.

Strategies for Effective AI Policy and Governance

1. Pragmatic Regulation

Appropriate regulation for AI begins with an understanding of the technology’s inherent risks, benefits, and the challenges it poses to current legal thresholds. Policymakers should aim to create a regulatory framework that encourages innovation while managing potential threats. Regulation strategies need to be versatile, future-proof, and must prioritize ethical considerations.

2. Interdisciplinary Collaboration

It's pivotal to engage multiple stakeholders and communities for comprehensive AI policy development. These include AI experts, policymakers, ethicists, legal experts, sociologists, and users - only through broad collaboration can legislation embody the nuanced perspectives required for fair use and application of AI. Interdisciplinary collaborations can also foster mutual learning, innovation, and trust among stakeholders.

3. International Cooperation

The global nature of AI demands an international approach. Countries need to collaborate on AI policy development and enforcement for global consistency and to avoid 'AI Races' that could undermine ethical standards in the pursuit of technological superiority. International cooperation should also aim to mitigate inequities across countries arising from AI developments.

4. Ensuring Transparency and Explainability

Democratizing AI requires transparency in AI applications. Users must understand how AI takes decisions, which demands an emphasis on algorithmic explainability. Transparent AI practices not only enhance user trust but also allow regulators to effectively monitor and police AI use.

5. Focus on Inclusion

Policymakers must focus on mitigating the negative effects of AI by prioritizing inclusion. Policies should ensure fair access to AI technologies, prevent bias in AI development, and protect vulnerable groups from being disproportionately disadvantaged by AI advancements.

6. Building Ethical AI

Creating Ethical AI should be a core principle built into the design process. This means maintaining user privacy, ensuring data security, embedding fairness principles into algorithms, and making AI accountable for its actions. Regulatory measures can be leveraged to enforce ethics in AI, with penalties for violations.

Conclusion

As we stand on the precipice of a new era shaped by AI, the need for robust policy and governance models has never been more pressing. By employing thoughtful, flexible strategies that champion ethical considerations and inclusivity, we can mold a more equitable AI-integrated future - where technology serves humanity, and not the other way round.