This paper addresses the critical challenge of analyzing privacy policies in the Android ecosystem, especially for AI assistant apps that have unfettered access to a vast amount of user data. Traditional methods of privacy policy analysis, while valuable, fall short in the face of the nuanced and evolving landscape of digital privacy. To bridge this gap, we introduce a novel approach that utilizes Generative AI (GenAI) to revolutionize the analysis of privacy policies. Our GenAI-driven methodology employs advanced generative models to interpret and generate text that mirrors human understanding, offering a sophisticated evaluation of privacy policies. This work advances the current state of research by providing a scalable and efficient tool that eliminates the need for extensive labeled datasets and manual intervention. By leveraging GenAI, we not only predict and classify the alignment of privacy policies with legal standards and user expectations but also enhance the preemptive assessment of potential privacy risks. Our comprehensive analysis extends beyond mere GDPR - Article 5 compliance to broader scrutiny of privacy policy implications, reinforcing user privacy and experience in the digital domain.