Many AI-powered tools, such as ChatGPT, Duolingo, Grammarly, Deepseek, and Quizlet, are being used by students for self-study and exam preparation (Schiller International University, n.d.). These tools help students overcome challenges faced in the traditional study system by providing instant solutions and feedback, thereby enhancing the learning experience. If students need quick answers or feedback, these apps can assist them effectively. This study aims to explore how AI-powered applications support students in their exam preparation and self-study. Specifically, it examines how the features of these tools enhance study performance, compare to traditional methods, and improve time management and study efficiency. To investigate the Impact of AI-Powered Learning Apps on Self-Study and Exam Readiness, both primary and secondary data were collected. The study employed the Simple Random Sampling technique. A total of 140 valid responses were obtained from Mumbai. Findings indicate that a considerable part of students actively use AI-powered learning applications. The data revealed that AI tools significantly assist in comprehension. The study also highlights AI-powered tools' impact on time management. However, a section of respondents remains skeptical about AI's effectiveness in certain aspects of learning, emphasizing the need for further development and refinement of AI-based educational tools. These insights hold value for students, educators, educational institutions, policymakers, and app developers in understanding the role of AI in modern education.