This course delves into the transformative potential of AI and particularly Large Language Models (LLMs), which have sparked immense interest both in the general public and the scientific community. Students will develop a basic understanding of the principles and functioning of AI models, and then dive into the opportunities but also perils of various groundbreaking applications of AI and LLMs. For instance, we will discuss questions such as: How do LLMs affect the professional training of future academics in the context of university curricula? What are the implications of AI methods for basic (psychological) research? And more broadly, what are the implications of AI on human cognition and, consequently, society as a whole? To accommodate the very dynamic development of this field and the associated, constantly emerging issues, this course will adopt a highly flexible format with plenty of time for discussion and active student inputs.