In the era of rapid advancement of technology which offers numerous benefits through the use of Artificial Intelligence, many challenges are being imposed on the sustainability of companies. Given this context, the study aims to explore the integration of CSR and ethical leadership to address the risks posed by deepfake technology. The research has developed a theoretical framework that emphasizes on the contribution of CSR and ethical leadership towards the sustainability of businesses. It highlights the use of ethical AI practices and deepfake risk mitigating strategies to address the challenges imposed by deepfake technology. The study explains that with the development and adoption of deepfake detection tools, strategic communication, proper regulatory framework, and ethical guidelines, companies can remain sustainable in the deepfake era. Furthermore, businesses are advised to integrate CSR and sustainable practices in core strategies. The research highlights the role of policymakers in establishing the regulatory and ethical guidelines for the responsible use of Artificial Intelligence and suggests the academicians to research on the integration of CSR, ethical leadership and sustainability in the context of technology-related risks. Despite these efforts, challenges such as resource constraint, technological complexity and the lack of ethical guidelines on the use of AI persist. Therefore to thrive in the deepfake era, the research recommends collaboration across industries, academia and government to establish best ethical practices and foster a culture of digital ethics.