The pursuit of Artificial General Intelligence (AGI) has captivated researchers and industry leaders alike, promising a future where machines possess human-like cognitive abilities. However, this ambitious endeavor is fraught with multifaceted challenges and ethical dilemmas that necessitate careful examination. This critical review surveys the landscape of AGI research, identifying key hurdles and ethical considerations while outlining potential pathways forward. Firstly, technical challenges loom large on the path to AGI. These encompass fundamental problems such as developing robust learning algorithms capable of generalizing across diverse domains, as well as engineering systems that can exhibit adaptive and autonomous behavior akin to human intelligence. Additionally, ensuring the safety and reliability of AGI systems presents a formidable obstacle, with concerns ranging from algorithmic bias to the potential for catastrophic outcomes in unanticipated scenarios. Ethical considerations permeate every facet of AGI development and deployment. Questions of accountability, transparency, and control surface as central concerns, as the implications of relinquishing decision-making authority to autonomous systems raise profound ethical dilemmas. Moreover, the socio-economic ramifications of widespread AGI adoption, including job displacement and inequality, demand careful scrutiny and proactive mitigation strategies. Navigating these challenges requires a concerted effort from interdisciplinary stakeholders. Collaboration between computer scientists, ethicists, policymakers, and the public is essential to establish robust frameworks for the responsible development and deployment of AGI. Moreover, fostering an inclusive dialogue that prioritizes ethical principles and societal values is paramount in shaping a future where AGI augments human capabilities while safeguarding against potential risks. While the pursuit of AGI holds immense promise, its realization demands a holistic approach that addresses technical challenges alongside ethical considerations. By charting a path forward that prioritizes safety, transparency, and ethical governance, we can harness the transformative potential of AGI while ensuring its alignment with human values and interests.