This study analyzes to what extent information systems (IS) research has investigated artificial intelligence (AI) applications and the ethical concerns that these applications pose in light of the EU AI Act and the recommendations and guidelines provided by other institutions, including the White House, UNESCO, OECD, and Université de Montréal. A systematic literature review methodology and a semantic text similarity analysis will be employed to conduct this investigation. The results of such investigation will lead to contributions to IS researchers by synthesizing previous IS studies on ethical AI design and implementation and proposing an agenda and future directions for IS research to make it more oriented toward the compliance of AI systems with current ethical provisions and considerations. This study will also help practitioners to be more aware of AI ethics and foster technical and managerial solutions that could be developed in compliance with current institutional ethical demands.