Generative AI refers to artificial intelligence (AI) systems that generate new content by learning from existing data. These systems use deep learning to understand patterns and generate output that resembles human-created content, such as GPT-4. We are in a generation actively experiencing the fourth industrial revolution, where modifications and improvements are constantly being made to technology that is shifting how we approach our daily tasks. Previous studies have explored the effectiveness of AI usage in education. However, the gap in the literature remains in understanding how students perceive these AI tools and the impact of these perceptions on their learning experiences. Students’ perceptions of the use of generative AI tools in private tertiary institutions are crucial in providing insights into how these technologies impact learning experiences and outcomes. This study used a quantitative approach, employing an online and physically distributed survey to gather data on students’ use, perceived benefits and challenges of generative artificial intelligence tools. The results revealed varied perceptions, as while some students valued AI for enhancing creativity and efficiency, others expressed concerns about its reliability, ethics and academic integrity, with differences observed based on familiarity with AI and variations in the fields of study. These findings suggest that understanding student perspectives can aid institutions in responsibly integrating AI, addressing ethical concerns and enhancing support for learning outcomes. Insights gathered from this research will also contribute to the broader conversation on the role of AI in education, providing recommendations for private tertiary institutions in South Africa aiming to integrate generative AI tools in ways that enhance learning while minimizing risks.