<p>Despite the rapid expansion of smart campus ecosystems, the majority of the literature is still focused on administrative efficiency. The current study was carried out with the aim of examining the effectiveness of the implementation of the open student-engaged smart campus model with the integration of the Internet of Things, artificial intelligence, and learning analytics in terms of academic performance and psychological outcomes in the higher education sector. A randomized two-group pretest-posttest study was carried out with the participation of 160 biology department undergraduate students (80 in the experimental group and 80 in the control group). Academic performance was evaluated using the biology examination scores of the students. Anxiety and well-being were monitored using the GAD-7 scale and the WHO-5 scale, respectively. The study revealed that the students in the experimental group showed higher academic performance (81.21), lower anxiety (7.79), and higher well-being (18.79) compared with the control group (76.16, 9.89, and 11.11, respectively). The study revealed significant effects of the implementation of the smart campus model in terms of academic performance, anxiety, and well-being using repeated-measures ANOVA. The study revealed that the implementation of the smart campus model is more effective with the involvement of the students in the governance structure of the university, where they can inspect the outputs of the system and understand the application of AI in the analytics process.</p>