Raman spectroscopy (RS) is a label-free molecular vibrational spectroscopy technique that is able to identify the molecular fingerprint of various samples making use of the inelastic scattering of monochromatic light. Because of its advantages of non-destructive and accurate detection, RS is finding more and more use for benign and malignant tissues, tumor differentiation, tumor subtype classification, and section pathology diagnosis, operating either in vivo or in vitro. However, the high specificity of RS comes at a cost. The acquisition rate is low, depth information cannot be directly accessed, and the sampling area is limited. Such limitations can be contained if data pre-and post-processing methods are combined with current methods of Artificial Intelligence (AI), essentially, Machine Learning (ML) and Deep Learning (DL). The latter is modifying the approach to cancer diagnosis currently used to automate many cancer data analyses, and it has emerged as a promising option for improving healthcare accuracy and patient outcomes by abiliting prediction diseases tools. In a very broad context, Artificial Intelligence applications in oncology include risk assessment, early diagnosis, patient prognosis estimation, and treatment selection based on deep knowledge. The application of autonomous methods to datasets generated by RS analysis of benign and malignant tissues could make RS a rapid and stand-alone technique to help pathologists diagnose cancer with very high accuracy. This review describes the current milestones achieved by applying AI-based algorithms to RS analysis, grouped according to seven major types of cancers (Pancreatic, Breast, Skin, Brain, Prostate, Ovarian and Oral cavity). Additionally, it provides a theoretical foundation to tackle both present and forthcoming challenges in this domain. By exploring the current achievements and discussing the relative methodologies, this review offers recapitulative insights on recent and ongoing efforts to position RS as a rapid and effective cancer screening tool for pathologists. Accordingly, we aim to encourage future research endeavors and to facilitate the realization of the full potential of RS and AI applications in cancer grading.