The increasing adoption of AI technologies in both, business and private spheres, necessitate robust governance frameworks to ensure adherence and alignment with societal values and legal standards. A principles-based framework for AI governance provides a compass to navigate the ethical and responsible development and use of Artificial Intelligence. Unlike rigid rulebooks, this frameworks establish core principles that guide decision-making throughout the AI lifecycle to address the unique challenges posed by different AI systems. The European Union's Ethics Guidelines for Trustworthy AI, the Bletchley Declaration, SR 117, and ISO/IEC 42001 are a few frameworks that provide a set of principles for organizations to manage AI throughout its lifecycle. As AI continues to evolve, focusing on few, core principles ensure longevity of the underlying AI Governance framework and that AI development remains responsible and human-centric.