Transitioning from Education 1.0 to Education 5.0, the integration of generative artificial intelligence (GenAI) revolutionizes the learning environment by fostering enhanced human-machine collaboration, enabling personalized, adaptive and experiential learning, and preparing students with the skills and adaptability needed for the future workforce. Our understanding of academic integrity and the scholarship of teaching, learning, and research has been revolutionised by GenAI. Schools and universities around the world are experimenting and exploring the integration of GenAI in their education systems (like, curriculum design, teaching process and assessments, administrative tasks, results generation and so on). The findings of the literature study demonstrate how well GenAI has been incorporated into the global educational system. This study explains the roles of GenAI in the schooling and university education systems with respect to the different stakeholders (students, teachers, researchers etc,). It highlights the current challenges of integrating Generative AI into the education system and outlines future directions for leveraging GenAI to enhance educational practices.
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