Artificial intelligence evolves in cyclical patterns, with phases of dynamic technical progress, referred to as “AI springs”, interspersed with periods of stagnation, called “AI winters”. The current phase, known not only as another “AI spring” but rather as an “AI revolution”, has accelerated particularly over the past year, starting with the launch of the ChatGPT service on November 30, 2022. The widespread adoption of generative AI systems has significantly impacted numerous aspects of socio-economic life, with a particular focus on the ICT sector. This paper presents a detailed and comprehensive analysis of the labour market, utilising quantitative and qualitative data, to assess the impact of artificial intelligence tools, including their effects on the IT industry, potential AI applications across various sectors of the global economy, and a detailed study of the transformation of the Polish labour market in terms of AI-related occupations. In addition, the challenges facing the higher education system due to the growing demand for specialised personnel in artificial intelligence are identified. The paper also attempts to evaluate future trends in the labour market relating to the further development of artificial intelligence, with a particular focus on potential changes in the demand for competencies and possible challenges faced by various sectors of the economy.