This study explores the benefits of ChatGPT in academic settings and assesses perceptions among faculty members and postgraduate students regarding traditional libraries versus ChatGPT's capabilities. A quantitative methodology was employed, utilising structured questionnaires to gather data from 138 participants in higher education institutions in Kerala. Data analysis was performed using IBM SPSS Version 21, focusing on descriptive statistics and the Chi-square test. Findings indicate that both students and faculty find ChatGPT advantageous primarily for its accessibility and time-saving features. This study highlights changing user expectations and suggests that library professionals could innovate library services in response, marking a significant examination of library users' perceptions of ChatGPT and the library's role in delivering reliable information to educators and students.