The state of the art of generative artificial intelligence is changing at lightning speed. Advances come by the hour, not just by the day. How might this play out in higher ed? To effectively envision the near future of generative AI in higher ed, we need to at least briefly consider the context of the broader economy, the general fiscal condition of higher education, the state of development/deployment of new and emerging AI technologies, and the emerging demand for graduates, upskilled and reskilled workers with certificates from colleges and universities.