The rapid advent of artificial intelligence (AI) is influencing education systems at all levels. Understanding the wide-ranging potential implications of AI, the Indian Central Board of Secondary Education (CBSE) has produced an AI integration manual consisting of details, strategies and approaches to successfully integrate AI in teaching and learning processes in its affiliated schools. Using thematic analysis, this study attempts to explore the promises and potentialities of AI in K-12 education with reference to the initiatives taken by the CBSE in its school system. Results show that the CBSE has taken two-fold initiatives to integrate AI in its school curricula. The first is to introduce AI as an independent subject of study, and the second is to integrate AI as a parallel pedagogical approach to instruct other multidisciplinary school subjects and vice versa. Finally, the study makes some concluding remarks regarding innovative AI incorporation in K-12 education.