AI-driven intelligent parking solutions are quickly becoming an essential component of our day-to-day life. They are essential and advantageous for both parking management and parking customers on both ends of the spectrum. Smart parking systems that are powered by AI examine the availability of parking spots using specialized hardware and software. They contribute to effective parking management and have the potential to alter and enhance the parking business as a whole. The use of specialized Internet of Things (IoT) instruments that are able to count the number of parked cars and vacant parking spots in a parking lot is included in AI-based smart parking solutions. It is able to determine whether there is a vehicle currently occupying a parking spot and communicate this information to the management platform. The fact that an AI-based solution can gather and prepare the data in real time is without a doubt the most advantageous aspect.