Over the past decades, software development processes have evolved rapidly, propelled by the increasing complexity of software systems, the demand for faster delivery, and the need to adapt to rapidly changing customer expectations. This chapter examines pivotal milestones, starting with structured approaches such as the Waterfall and V-Model, progressing through iterative methodologies such as Agile and DevOps, and culminating in the rise of microservices and cloud-native architectures. With the recent integration of generative artificial intelligence (AI) technologies, development processes have been revolutionized by automating tasks, enhancing collaboration, and enabling engineers to concentrate on strategic problem-solving. Furthermore, it explores how generative AI disrupts existing workflows, requiring software engineers to develop new skills and mindsets. Further, this chapter discusses the opportunities and challenges associated with AI-driven tools and processes as the industry continues to innovate and expand the horizons of software development. While comprehensively analyzing these transformations, the chapter accentuates the significance of balanced adoption to position technological advancements in synchronization with societal values and industry demands.