Numerous facets of the business sector are being profoundly impacted by artificial intelligence (AI). The main benefit that early adopters of AI have seen is enhanced inventiveness. With its many benefits, artificial intelligence (AI) has found several uses in new product development (NPD). It is anticipated that NPD would embrace AI at its fastest rate by the end of this decade, with a window of 13–15 years for broad implementation. This study focuses on the three key areas in the new product process where artificial intelligence may significantly improve. According to Rogers’ innovation diffusion curve, AI for NPD will be available in early 2023 at the “early adopter” level. Based on a number of studies, the article identifies adoption barriers, including a weak business case, perceived prohibitive adoption costs, a lack of organizational preparedness and the appropriate attitude, as well as hazards and ethical concerns related to AI.