Generative AI is the subfield of artificial intelligence (AI) and machine learning (ML) that involves the creation of original data or content, including images, video, text, code, and 3D renderings. The field of learning technology has undergone a massive transformation, propelled by the rapid advancement of digital tools. This paradigm shift has not only democratized access to education but has also revolutionized the way individuals of all ages and backgrounds engage with learning materials. Learning technologies are on the brink of changes and challenges by generative AI. This work seeks to identify the impact of generative AI, particularly in learning technologies and its current challenges. With the advent of generative AI, the institute or academy needs to rebuild its assessment and evaluation system in addition to the course curriculum and learning outcomes. Given that generative AI is a rapidly transformative innovation, this research endeavors (i) the impact of generative AI on innovation, (ii) the impact of generative AI in learning technologies, and (iii) a predictive analysis of how to address them going forward. The future of these innovations is not like that of other previous technological innovations which have many challenges but generative AI is expected to reshape the value of knowledge. The study aims to present the analysis from the survey conducted with the control group who use generative AI and to prove how generative AI is taking over the innovation and learning technologies based on the hypothesis that is generated with the demographic- and opinion-based questions which are well suited for data analysis.