Improving transportation efficiency and on-road safety using Intelligent Transportation Systems (ITSs) has become crucial as road congestion and vehicle complexity increase coupled with ongoing rapid development and deployment of electric vehicles across the globe. Recent advances in computer systems and wireless communications have ushered in more possibilities for smart solutions to road traffic safety, congestion reduction, convenience, and overall efficiency. The evolution and deployment of 5G have opened up new technologies and features that can provide the much needed high-mobility wireless networks for the emerging Internet of Vehicles (IoV). The application of AI consisting of Deep Learning (DL), Machine Learning (ML) and Swarm Intelligence (SI) techniques have emerged in both conventional and vehicular wireless networks with strong promises towards enhancing traditional data-centric methods. Particularly, in the application domains of IoV, big data is frequently generated from various sources within the vehicular communication environment. The collected big data is usually processed and used for both safety and infotainment services including routing, broadening drivers' awareness, traffic mobility prediction for hazardous situation avoidance to improve overall safety and passenger comfort, and general quality of road experience. Applying data-driven methods enables AI to address high mobility and dynamic vehicular communications and network issues facing traditional solutions and approaches like network optimization techniques and conventional control loop design. This study provides a concise review of DL, ML and SI techniques and applications that are currently being explored by different research efforts within the application area of vehicular networks. The paper further discusses the strengths and weaknesses of the proposed AI-based solutions for the IoV networks.