Generative AI (GenAI) is a disruptive technology likely to generate a major impact on faculty and learners in medical education. This work aims to measure the perception of GenAI among medical educators and to gain insights on its major advantages and concerns.A survey invitation was distributed to medical education faculty of colleges of allopathic and osteopathic medicine. The survey comprised twelve items assessing the role of GenAI for students and educators.Responses showed a positive attitude towards GenAI and disagreed on GenAI having a very negative effect on either the students' or faculty's educational experience. Eighty-five percent responded to have heard about GenAI, while 42% have not used it at all. Generating text (33%), automating repetitive tasks (19%), and creating multimedia content (17%) were some of the common utilizations of GenAI by school faculty. The majority agreed that GenAI is likely to change their role as educator. The greatest perceived strengths of GenAI were the ability to conduct more efficient research, task automation, and increased content accessibility. The faculty's major concerns were with cheating in home assignment (97%), tendency for blunder and false information (95%), lack of context (86%), the removal of human interaction in important feedback processes (83%), and the lack of guidelines for safe use of GenAI.Consensus-based guidelines at the institutional and/or national level need to start to be implemented to govern the appropriate use of GenAI while maintaining ethics and transparency. Faculty responses reflect an optimistic and favorable outlook on GenAI's impact on learning.