In the era of digital transformation, organizations more frequently seek advanced technologies which will support effective management and the use of knowledge. Generative Artificial Intelligence (GenAI) is emerging as a technology with huge transformation potential in the field of knowledge management (KM) to improve key processes such as creation, organization, sharing and usage of knowledge. The study presents the results of a systematic literature review which aimed to identify current opportunities and future conceptual research in the context of integration between GenAI and KM practices. A synthesis of the literature from major databases indicates potential benefits resulting from using GenAI, such as improved effectiveness, support in decision-making, knowledge personalization, and developing employees. The article juxtaposes the perspective of researchers and GenAI, pointing to common conclusions and areas requiring research. A conceptual model of research clusters is proposed, which may offer a starting point for future analysis and structure the understanding of GenAI’s role inside knowledge-based organizations.