One of the important tasks in NLP is catchphrase extraction. The important goal in this process is to automatically find short, semantically important phrases that sum up the main information in text documents. We have surveyed various catchphrase extraction techniques. The survey offers an easy-to-understand overview of popular tools, familiar techniques, and relevant datasets. The deep learning techniques this work focuses on illustrate a shift from classical linguistic and statistical techniques to the use of AI and machine learning. This study focuses on the phrase extraction methods and their effectiveness across different social media platforms, SEO, and summarizing texts. It analyzes the pros and cons of the techniques. Some other issues such as a large variety of languages and styles, methods to preserve phrase meanings, and large-scale automated applications are also discussed. Finally, the authors suggest questions that remain unanswered and topics that require more attention, underlining the aim of advocating study in the fast-evolving domain of Information Processing.