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Artificial Intelligence (AI) holds promise in improving diagnostics and treatment. Likewise, AI is anticipated to mitigate the impacts of staff shortages in the healthcare sector. However, realising the expectations placed on AI requires a substantial effort involving patients and clinical domain experts. Against this setting, this review examines ethical challenges related to the development and implementation of AI in healthcare. Furthermore, we introduce and discuss various approaches, guidelines, and standards that proactively aim to address ethical challenges.