Modern agriculture is characterized by the use of smart technology and precision agriculture to monitor crops in real time. The technologies enhance total yields by identifying requirements based on environmental conditions. Plant phenotyping is used in solving problems of basic science and allows scientists to characterize crops and select the best genotypes for breeding, hence eliminating manual and laborious methods. Additionally, plant phenotyping is useful in solving problems such as identifying subtle differences or complex quantitative trait locus (QTL) mapping which are impossible to solve using conventional methods. This review article examines the latest developments in image analysis for plant phenotyping using AI, 2D, and 3D image reconstruction techniques by limiting literature from 2020. The article collects data from 84 current studies and showcases novel applications of plant phenotyping in image analysis using various technologies. AI algorithms are showcased in predicting issues expected during the growth cycles of lettuce plants, predicting yields of soybeans in different climates and growth conditions, and identifying high-yielding genotypes to improve yields. The use of high throughput analysis techniques also facilitates monitoring crop canopies for different genotypes, root phenotyping, and late-time harvesting of crops and weeds. The high throughput image analysis methods are also combined with AI to guide phenotyping applications, leading to higher accuracy than cases that consider either method. Finally, 3D reconstruction and a combination with AI are showcased to undertake different operations in applications involving automated robotic harvesting. Future research directions are showcased where the uptake of smartphone-based AI phenotyping and the use of time series and ML methods are recommended.