This research endeavors to examine the impact of Chat Generative Pre-trained Transformer (ChatGPT) on the education system, specifically in the realm of academia and the challenges that it poses. The incorporation of ChatGPT into academic practices may necessitate a reevaluation of current assessment and evaluation systems. The integration of ChatGPT into the academic world raises important questions regarding the ethics of AI-generated authorship and the implications it has on the value of creative work. This new chatbot has the potential to revolutionize various fields, particularly education and creative works, including art, music, creative writing, and all areas of humanity subjects. The paper presents a qualitative analysis of the implications of ChatGPT on the education system and academic research domain. The future trajectory of this new technology is not unlike that of other previous technological innovations but AI-chatbot technology is expected to reshape the value of knowledge. This study aims to shed light on these pressing issues and present a possible compromise strategy for resolving them.