Following the very recent launch of the ChatGPT chatbot, numerous comments and speculations were posted concerning the potential aspects of society that are expected to benefit from this AI revolution. In particular, the education sector is considered as one of the primary domains affected by this application, the impact of which remains yet to be fully understood. Furthermore, many Higher Education institutions are required to get to terms with its impact on teaching and learning, and to clarify their stances on the use of ChatGPT software. This study was developed to investigate some critical case studies considered as relevant to the inevitable re-evaluation of educational aspects needed, ranging from academic missions to student and course learning outcomes and its ethical uses. Following a review of some of the pros and cons of ChatGPT in the higher educational sector, this paper shall demonstrate several case studies of early trials in teaching and learning assessments related to various specializations. Next, the ability of some well-known AI detector software and analyzed in terms of their capacity to successfully detect AI-generated content. Analysis shall be made of the foreseen impact on important aspects including challenges and benefits related to its use in course assessments as well as academic integrity and ethical use. The study concludes with a set of recommendations made from our findings and benchmarks obtained from top universities in order to assist faculty members and decision makers at Higher Education institutions concerning their response strategy and use of ChatGPT.