This chapter explores the advancements of utilizing generative AI in various aspects of code development. The chapter begins with an introduction to generative artificial intelligence (AI) and its potential applications in software design. It then delves into specific areas of code development, including code generation, optimization, refactoring, repair, annotation, and testing, highlighting how generative AI can be leveraged in each of these areas. The limitations of generative AI in code development, such as contextual understanding, data bias, and creativity, are discussed, along with potential prospects for addressing these limitations. Additionally, the chapter presents advancements in combining AI technology with code development, including hybrid approaches, explainable AI, domain-specific models, collaboration, and continuous learning. Finally, the chapter concludes with a summary of the key findings and future trends in the field of generative AI for code development. By understanding the advancements, limitations, and prospects, developers and researchers can explore the potential of generative AI in code development and pave the way for more efficient and innovative software development practices.