Emerging technologies, including artificial intelligence (AI), quantum computing, and biotechnology, hold immense promise to address critical global challenges such as climate change, public health crises, and resource depletion. However, their rapid development introduces pressing ethical, legal, and societal dilemmas, including data privacy concerns, algorithmic bias, intellectual property disputes, and the deepening of social inequities. This paper comprehensively explores these multifaceted challenges, underscoring the necessity of robust governance frameworks to mitigate associated risks. It advocates for adopting Responsible Research and Innovation (RRI) principles to ensure technological progress aligns with societal values, ethical standards, and sustainability objectives. Through actionable policy recommendations and a comprehensive governance model, the paper emphasizes the importance of international collaboration and inclusive stakeholder engagement in shaping the responsible trajectory of technological innovation.