Step 2: Recognize that we need to find the derivative f'(x).
Step 3: Use the chain rule for differentiation. The chain rule states that if you have a function inside another function, you take the derivative of the outer function and multiply it by the derivative of the inner function.
Step 4: The outer function is ln(u), where u = x^2 + 1. The derivative of ln(u) is 1/u.
Step 5: The inner function is u = x^2 + 1. The derivative of u with respect to x is 2x.