In the evolving landscape of higher education, artificial intelligence (AI) is transforming traditional learning paradigms. As this transformation unfolds, understanding how educational communities perceive and adapt to AI, which is becoming increasingly present, as it compels a shift in traditional paradigms. This study investigates the perspectives of students and teachers on the future of universities in the age of AI. Through a comprehensive survey, we explored the anticipated impacts of AI on learning, teaching methodologies, and soft skills development, such as critical thinking and effective communication. The findings highlight the balance needed between AI-driven personalized learning and meaningful human interaction in education. AI’s potential to enhance educational experiences is widely recognized by both students and teachers yet concerns about over-reliance on technology and the diminishing role of soft skills persist. The integration of AI into educational institutions presents both opportunities and challenges, redefining the roles of educators and learners. This study’s methodology involved distributing surveys to students and teachers, primarily within engineering programs, to gather qualitative data on their experiences, expectations, and concerns. Responses were coded and analyzed to identify common themes and divergent opinions. The results underscore the importance of balancing AI’s benefits with the essential human elements of education, ensuring that the future of higher education remains both innovative and human centric.