Radiation shielding plays a vital role in protecting humans and the environment from the harmful effects of ionizing radiation. With the increasing applications of radiation-emitting technologies in various fields, the selection of appropriate shielding materials has become crucial. This paper provides a comprehensive review of the methods, scope, and significance involved in the selection of radiation shielding materials and emphasizes the importance of integrating artificial intelligence (AI) to enhance the predictability and reliability of selected materials in order to ascertain their wide applicability in this field. The first section explores the most important parameters involved so as to ascertain the best selection of the shielding material and the individual methods for calculating all the parameters. It also includes a discussion of traditional methods, such as the use of lead and concrete, as well as more advanced techniques like computer simulations and mathematical models, thereby highlighting the significance of AI in this field. The second section focuses on the scope of radiation-shielding materials. It covers a wide range of applications, including medical facilities, nuclear power plants, industrial radiography, and space exploration. Each application has its own unique requirements, considering factors such as radiation type and energy, permissible exposure limits, and structural constraints. The review emphasizes the need for tailored shielding solutions that address specific radiation. Similarly, effective shielding not only ensures the safety of personnel and the general public but also minimizes the potential for long-term health risks associated with radiation exposure. Additionally, the economic implications of shielding material selection are discussed while providing an AI model using artificial neural network (ANN), as the cost, availability, and sustainability of materials play a crucial role in decision-making. Furthermore, the review highlights recent advancements in radiation shielding materials with the incorporation of AI, such as alloy materials and polymer composite materials, as one of the solutions. These innovative materials offer enhanced radiation attenuation properties, improved structural integrity, and reduced weight compared to conventional shielding materials.