Artificial intelligence (AI) has been integrated into higher education (HE), offering numerous benefits and transforming teaching and learning. Since its launch, ChatGPT has become the most popular learning model among Generation Z college students in HE. This study aimed to assess the knowledge, concerns, attitudes, and ethics of using ChatGPT among Generation Z college students in HE in Peru. An online survey was administered to 201 HE students with prior experience using the ChatGPT for academic activities. Two of the six proposed hypotheses were confirmed: Perceived Ethics (B = 0.856) and Student Concerns (B = 0.802). The findings suggest that HE students’ knowledge and positive attitudes toward ChatGPT do not guarantee its effective adoption and use. It is important to investigate how attitudes of optimism, skepticism, or apathy toward AI develop and how these attitudes influence the intention to use technologies such as the ChatGPT in HE settings. The dependence on ChatGPT raises ethical concerns that must be addressed with responsible use programs in HE. No sex or age differences were found in the relationship between the use of ChatGPTs and perceived ethics among HE students. However, further studies with diverse HE samples are needed to determine this relationship. To promote the ethical use of the ChatGPT in HE, institutions must develop comprehensive training programs, guidelines, and policies that address issues such as academic integrity, privacy, and misinformation. These initiatives should aim to educate students and university teachers on the responsible use of ChatGPT and other AI-based tools, fostering a culture of ethical adoption of AI to leverage its benefits and mitigate its potential risks, such as a lack of academic integrity.