This paper provides basic concepts of genomic selection (GS) methods in beef and dairy cattle production in combination with assisted reproductive technologies (ART) such as ovum-pick up and in vitro production (OPU-IVP). We first introduce genomic tools and discuss main methods of GS as practiced todate. The general benefit from GS is that it enables selecting animals accurately early in life using genomic predictions particularly those phenotypes that are very difficult or expensive to measure. While it is known that GS increases genetic gain and profit in conventional cattle breeding, GS is much more desirable when combined with OPU-IVP in cattle production. The expected benefits of GS-OPU-IVP far exceed the benefits achieved by either GS or OPU-IVP alone mainly due to tremendous reduction in generation interval. The genetic improvement will increase even further, if genetic merit of donor cows and bulls used in OPU-IVP for key economic traits are maximal. The paper also highlights some challenges particularly with regard to embryo biopsies and quantity and quality of embryo DNA for whole genome genotyping and ways to overcome difficulties. We briefly discuss the somatic cell nuclear transfer (SCNT) technique in the context of applying GS on fibroblast cell lines from fetuses obtained from OPU-IVP techniques and provide our perspectives on how it might pave way for even more rapid cattle improvement. Main conclusion is that employing genomic selection in ARTs such as OPUIVP of embryos coupled with embryo sexing and SCNT will lead to rapid dissemination of high genetic merit animals on a scale never been seen before. Finally, the paper outlines current research activities on combined genomic selection and advanced reproductive technologies in the GIFT project consortium (www.gift.ku.dk).