This study, a collaboration between ServiceNow and Comic Relief US, explores how global Gen Z (ages 18–27) perceives and engages with AI through a survey of 1,165 young adults and 54 in-depth conversations. It finds that while over 60% believe AI can positively impact society, optimism is tempered by fears of cognitive decline—erosion of creativity, problem-solving, and critical thinking—more than job loss or rogue AI scenarios. The research highlights differences by age, region, and occupation: younger Gen Zers and those in wealthier regions are more skeptical, while youth in South Asia and Africa are more optimistic and frequent users. Despite enthusiasm, a strong majority favor tighter regulation, viewing governance as essential to ensuring AI empowers rather than diminishes human potential.