Since the rise of generative artificial intelligence (GenAI) in late 2022, many scholars and thought leaders have wondered about its impact on higher education. This study used a survey methodology (three multiple choice questions and one open-ended question) to explore the perspectives of a nationally representative sample of 1,327 U.S. administrators and faculty, asking questions to understand how much change they anticipate as a result of advancements in artificial intelligence (AI) technology, how prepared their institution is for such change, and what aspects of higher education they expect to change. The researchers used Kranzberg's Laws of Technology as a lens to interpret the findings and guide the subsequent discussion about how AI might impact higher education. The findings showed that the vast majority of participants expect that AI will change their institution over the next five years and that the majority of participants do not feel that their institution is ready for change. The comments left in response to the open-ended questions fell into one of four themes: concerns about academic integrity and rigor, issues related to AI integration (e.g., anticipated benefits, practices in teaching and learning, issues related to preparedness, and the expected scope of change), the feeling that the current AI discourse is merely hype, and feelings of uncertainty. Ultimately, AI has the potential to be both advantageous and disadvantageous to teaching and learning, with the benefits and challenges of its use varying by context.