Businesses and the structure of innovation management are being transformed by artificial intelligence (AI). With regard to the rapid advancement of technology and the replacement of traditional human functions, artificial intelligence (AI) can lead management to reevaluate an organization's entire plan for innovation. The ramifications for innovation management in the future are reviewed and examined in accordance. Numerous sectors use project management, and it is not exempt from the advancements that the use of AI keeps bringing about globally. Nevertheless, AI is not yet widely used in businesses, particularly not in all project management domains. Although the exact causes are unknown, they appear to be connected to the unpredictability of using the use of AI in project management (PM). This paper's goal was to recognize the potential and constraints of AI in the particular field of project management through a thorough literature review that allowed for the analysis and correlation of the chosen articles and the discovery of some trends and patterns. A web-based survey and meets with professionals in the field were done to find out how AI might affect the project management industry in the future. In the end, it was clear that, despite certain unexplored areas, the academic community is growing more and more curious in this field.