Sure. Careful is always smarter than rushing in without thinking.
These tools are here to stay, and your students will be using them one way or another. If not in school, then outside, and for sure once they start working. So instead of outright banning them, a much better approach would be to incorporate them in some way in their education. Let them play with those tools and see what they can come up with. Let them find out what propmpts work and which ones don't, see if someone can spot when they are "hallucinating", etc. The opportunities are endless once you embrace them instead of just "crying wolf" and trying to make them say something outrageous.