In the denouement of the COVID-19 pandemic, talk of a return to "normalcy" in higher education belies the great challenges and ongoing disruptions that yet lie ahead for many institutions. Public perceptions of the value of postsecondary education continue their downward slide, placing institutions in the position of having to demonstrate their worth and find solutions to declining enrollments. Data and analytics capabilities continue to evolve, introducing new opportunities and new risks to the institution. Chief among these capabilities, generative AI promises to change teaching and learning in ways many of us have yet to fully understand or prepare for. For this year's teaching and learning "Horizon Report," expert panelists' discussions highlighted and wrestled with these present and looming challenges for higher education. This report summarizes the results of those discussions and serves as one vantage point on where our future may be headed. This project was grounded in a modified Delphi methodology that seeks to elevate the collective perspectives and knowledge of a global panel of leaders from across the higher education landscape, and the panelists' activities were facilitated using tools adapted from the Institute for the Future.