Are we ready for this new change? With recent developments in technology and innovation, we came across Artificial Intelligence (AI) which is now playing a major role in our everyday tasks and endeavors. It came to that advent that we prefer not to do simple tasks without using AI. From assisting students in academics to facilitating the creation of scholarly articles through tools like ChatGPT, AI has ingrained itself into this modern society. But the pivotal query starts there, how is this AI impacting intellectual property rights and the challenges of granting authorship or ownership rights if there is AI used? This article addresses the ongoing legal issues that include whether any intellectual property made by the technology or AI possesses the right to claim ownership or authorship. Moreover, the article delves into the inquiry of determining the rightful owner in cases of AI-generated works, contemplating whether ownership should vest with the AI entity or another identifiable party. The article concludes by stating the inherent disadvantages and the potential threats that are associated with granting legal rights and authorship to AI.