The session explored the evolving role of universities as key drivers of the AI economy, emphasizing the need to modernize curricula and strengthen collaboration between academia and industry. It outlined a practical approach to integrating AI literacy across all disciplines—not limited to computer science—while restructuring research agendas to focus on applied, industry-relevant challenges. The discussion highlighted the urgency for academic institutions to adopt more agile models, deepen partnerships with the private sector, and redefine success metrics to reflect real-world impact, including the career readiness of graduates and the creation of innovative startups and enterprises.