This research study provides a comprehensive analysis of excessive use of ChatGPT in academia which started a debate that either the excessive use of ChatGPT in academia is a blessing or a curse. Recently, the advent of artificial intelligence (AI) like ChatGPT had dramatically enhanced the human and computer interaction by offering the unparalleled accessibility and convenience. The study has measured the potential factors of academia which caused the excessive use of ChatGPT. Instant gratification (IG), academia work overload (AW) and social isolation (SI) has been taken as the predictors of excessive use of ChatGPT in academia. By employing the Uses and Gratification theory, it has been observed that how university students seek the help of AI for gratification, to minimize their work load and to mitigate the impact of social isolation. To escape from hard work, to reduce the life stressor and to gain comfort, students constantly seek for positive reinforcement from their tutors. So, positive reinforcement (PR) has been taken as a mediator in the relationship between IG, AW, SI and excessive use of ChatGPT. Access and technical know-how will strengthen the relationship of IG, AW, SI and PR while lack of technological literacy will lessen the strength of such relationship. Hence, technological literacy (TL) has been taken a moderator for IG, AW, SI and PR. Data has been collected from a homogenous population of business and management students of public and private universities of southern Punjab, Pakistan. A survey has been by conducted by distributing a structured questionnaire to 1100 graduate and undergraduate students. Out of which 678 students responded. At the end 617 useable responses were recorded for analysis. It has been found that IG, AW and SI enhances the use of ChatGPT while PR partially moderates this relationship. Additionally, TL strengths the relationship of IG, AW, SI and PR. The study measured the possible reasons of excessive use of ChatGPT in the academia while the perils of AI is yet to be explored in academia.