Through the advent of the technology, using ChatGPT on vocabulary acquisition has become popular among language learners. The current study tries to explore the efficacy of ChatGPT on vocabulary acquisition by comparing it with some pre-established and effective ways to learn vocabulary, like concordance-based vocabulary acquisition methods. The study involved 60 students, all of whom took a proficiency test to ensure an intermediate level of language proficiency before participating. Students were then randomly assigned to one of three groups: traditional, concordance-based, or ChatGPT-assisted, with 20 students in each group. This study utilized a mixed-methods design at two phases of comparing three groups learning vocabulary (traditional approach, concordance-based approach, and ChatGPT-based approach). Additionally, qualitative research was conducted to gain insights into students' perceptions, with the studies serving as the teacher for all three groups. Quantitative data were analyzed using statistical methods such as descriptive statistics and ANOVA. Qualitative data were analyzed using thematic analysis to uncover recurring themes and valuable insights from participants' responses. The findings highlight the positive implications of ChatGPT over concordances and their subsequent supremacy over traditional methods on vocabulary development. According to this study, using technologies, including ChatGPT and concordances, makes it possible to develop lexical competence, with methodological, cognitive, and affective benefits for EFL learners, thus offering significant contributions to the field of vocabulary acquisition. Future research should continue to explore the nuances of ChatGPT and concordancing in various educational contexts to further refine its application in vocabulary learning.