AI‐assisted reading tool has rapidly gained popularity because it can simplify and improve the process of comprehending research papers. This study examines their actual impact on students' academic reading effectiveness and experience. Two groups of participants were recruited for quasi‐experiment and use Mann–Whitney non‐parametric test to analyze their academic reading effectiveness and experience. Content analysis is employed to extract and analyze prompts posed by participants with AI‐assisted reading tool. Results show that positive impacts are noted on retelling of “Results”, “Conclusion”, and “Critical thinking”. However, negative effects emerge in “Background & purpose”, “Methodology”, and “Detail”. User experiences reveal “Concentration” challenges but positive perceptions of “Time fly”, “Control”, and “Feel joyful”. Students tend to pose self‐generated prompts rather than recommend prompts. AI‐assisted reading tools offer overall benefits but necessitate recognizing negative impacts. Students are encouraged to enhance their digital literacy to use AI‐assisted reading tools. Additionally, optimizing tool functions is essential for sustainable development.