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Artificial intelligence (AI) is becoming pervasive across industries, making it important for management information systems (MIS) students to understand the ethical issues involved. We present an active learning approach to teaching the fast-changing topic of AI ethics using a debate format. This approach was piloted in an undergraduate MIS course of 30 students. Over a five-week period, student teams were assigned to argue either the opportunities (pro) or dangers (con) viewpoint for five different AI technologies. A post-project survey indicated this format helps students gain a better understanding of the applications, opportunities, and potential misuse of AI. Students found this to be an engaging and fun way to explore the multiple dimensions of AI ethics that also required them to employ critical thinking, collaboration, research, and communication skills. We share our findings about the benefits of co-creating knowledge in the classroom using a debate format to explore an evolving topic.