This paper delves into the involvement of Artificial Intelligence (AI) in the process of Software Development Life Cycle (SDLC). The advancements in AI witnessed in recent years prove the need of its effective integration in the domain of Software Engineering (SE). This paper reviews the various AI technologies in use today, applied in the different phases of software development. Some of the relevant AI methodologies discussed in this paper include Machine Learning, Deep Learning, Natural Language Processing. It provides a methodical breakdown of how each phase is affected and how each phase utilises various techniques of AI in optimizing their outcomes. The benefits and challenges of the use of AI in the SDLC process are highlighted. Security concerns regarding the integration of AI are discussed, as issues like data privacy and the lack of data accuracy rise alongside the popularity of AI in SDLC. This paper as a whole provides insights and conclusions on the use of AI in SDLC and its future potential in the domain of Software Engineering.