The aim of this paper is to integrate Artificial Intelligence (AI) into Economic Operation and Planning (EOP) methodologies of power systems, specifically by implementing an Optimal Power Flow (OPF) optimization method in the Chennai Utility Bus System. Many traditional approaches to optimize power generation and planning are inherently limited and many of these limitations can be overcome by the use of Artificial Intelligence (AI) techniques. Herein, we have used the AI powered optimization algorithms such as Multi Objective Particle Swarm Optimization (MOPSO) and Multi Objective Genetic Algorithm (MOGA) to increase the efficiency in economical ranking and also grid planning. Implementation of AI techniques in Chennai utility bus system and also evaluating it in real time using Multi Objective Particle Swarm Optimization, Multi Objective Genetic Algorithm, Newton Raphson method and their results are compared. These AI-based methods aim to reduce operation costs, minimize power loss and improve voltage stability as well as minimizing deviation of voltages in order to increase the efficiency. Future work will expand the use of these techniques to more intricate systems, such as the Indian utility 146-bus system to validate their effectiveness, in real world applications.