Across all industries, equal measures of excitement and anxiety are accompanying these rapid changes; however, the concern seems particularly acute in higher education. Educators and administrators are being compelled to react quickly to a technology that can reshape research, writing, and individual program areas. And incidents of students using ChatGPT improperly is not making their jobs any easier. GenAI invites colleges and universities to not only adapt, but to leverage the promise of these technologies to unlock greater value in a variety of areas from recruitment marketing and student experience to faculty workload and intellectual property. Based on our research and discussions with clients, and given our broad expertise in education and technology, we have identified five major ways that higher education can leverage GenAI. We offer ideas for how institutions can navigate this journey as well as promising practices from early adopters.