Emerging technologies, particularly those driven by the widespread adoption of artificial intelligence (AI) across diverse domains, are distinguished by their remarkable potential to accelerate progress and fuel innovation. However, despite their transformative capabilities, AI systems remain far from infallible. The AI Incident Database, which documents over 3,000 cases of AI-related failures, highlights the prevalence of unforeseen and potentially hazardous issues arising when these systems are deployed in real-world scenarios. This underscores the imperative for researchers, policymakers, and professionals across various sectors—including education—to prioritize a thorough understanding of the risks associated with developing and applying AI technologies.

Building on this foundation, this paper delves into the latest scholarly literature to provide an in-depth analysis of the risks and benefits of contemporary AI applications in education. We critically examine empirical evidence on these risks and advantages, while addressing the methodological and practical challenges inherent in evaluating AI's impact in this context.

The discussion then shifts to risk mitigation strategies, focusing on regulatory efforts by the European Union, particularly through the proposed AI Act, as well as initiatives undertaken by governments worldwide. Special attention is given to policies and solutions directly relevant to the education sector, offering insights into how such measures aim to address the unique challenges posed by AI in educational settings.

In the concluding section, we distill a series of actionable recommendations designed to help policymakers and educators navigate the risks of integrating AI into education. These insights aim to strike a balance between leveraging AI's benefits and minimizing its potential harms, contributing to the development of safe and effective AI-driven educational practices.

Keywords: AI in education, risk management, innovation, impact, AI act, AI regulations.