As the debate and discussions are rapidly growing about the implementation of Artificial Intelligence (AI) in higher education institutions (HEIs) as well as in other sectors, we have gone through a systematic review and research of the topics and progress of AI at the present time. We have surveyed much literature and prepared a research review report in a systematic way. We have given more focus during our review research to discussing the benefits of AI, limitations, challenges and risks, institutional-level specific policies and guidelines required, implementation strategies, and a detailed roadmap with some recommendations. The review research is especially prepared to generate awareness among higher education institutions of these issues. A systematic review and outcomes provide unique findings and an interface of communication with up-to-date information on AI in higher education institutions (HEIs).