This systematic review investigates the impact of generative artificial intelligence (GenAI) tools on developing academic skills in higher education. Analysing 158 studies published between 2021 and 2024, it focuses on the impact of GenAI tools on the development of cognitive, technical and interpersonal skills. The results reveal that 94% of the sampled studies reported significant improvements in cognitive skills, like critical thinking, problem-solving, analytical and metacognitive abilities, facilitated by personalised learning and feedback. Indeed, the development of technical skills was reported in research (24%), writing (26%), data analysis (33%) and technical literacy (18%). Additionally, GenAI tools were found to promote interpersonal skills by fostering interactive and engaging learning environments, with notable skills development in communication (24%), organisation (26%), empathy (5%) and teamwork (45%). Hence, this review underscores the importance of ethical and responsible use of GenAI tools, ongoing monitoring and active stakeholder engagement to maximise their benefits in developing cognitive, technical and interpersonal skills in higher education. They offer a promising avenue for academic advancement by fostering critical thinking, enhancing technical proficiency and promoting effective communication and teamwork. Therefore, GenAI tools significantly enhance academic skills; however, their integration requires a robust ethical framework and sustained examination of their long-term impacts.