The advancement of Artificial Intelligence has led to a surge in its application in Information Technology (IT) Operations, often termed Artificial Intelligence for IT Operations (AIOPS). One of the most challenging problems in AIOPS is IT Service Management (ITSM), which deals with incidents and anomalies of users, often referred to as tickets. These tickets are resolved by the IT firm support system, which plays a significant role in the company's user experiences, productivity, and profit. Recent advances have been made to automate the prediction of IT incidents and resolve them in a minimal time, utilizing AI models. In this paper, we take stock of the work in this domain and review the challenges. We also highlight the open topics that require further investigation for the advancement of the field.