ChatGPT (Generative Pre-trained Transformer), an artificial intelligence tool that quickly generates responses when prompted on just about any topic, has caused a stir in all fields, but more so in the education sub-sector. Accordingly, the rise of generative artificial intelligence, exemplified by ChatGPT, is gradually necessitating a cascade of change in teaching and learning at all levels, as generative artificial intelligence’s ability to mirror human creativity continues to blur the line between deception and authentic scholarship. This chapter, thus, examines the multifaceted impact of artificial intelligence on education by bringing to the fore the benefits and risks related to its integration in learning. From this analysis, ChatGPT has several benefits that include; provision of instant feedback, brainstorming of ideas, speech-to-text and text-to-speech compatibility, language learning support, and provision of virtual personalized and adaptive tutoring. On the other hand, though, ChatGPT has numerous downsides that include; unfair learning assessment, limited and inaccurate knowledge, privacy concerns, lack of critical thinking, integrity/ethical issues, and resultant dependency/overreliance on computer assistance that could ultimately kill scholarship and reason. Consequently, this chapter recommends ways of effective integration and utilization of artificial intelligence in learning and education, generally.