I'm getting a new GPU(MSI GTX 970) and for now I have been using the Integrated Graphics on my CPU(I3-4160). Will I have to uninstall the Driver for the Integrated Graphics or can I have both Drivers installed?
Yes. The GTX 970 (as long as you have the monitor connected correctly) will be automatically selected. You don't want to uninstall the graphics drivers, because if your GPU stops working your iGPU won't work.