Different types of AI models used in software development include supervised learning models, unsupervised learning models, reinforcement learning models, and deep learning models. Supervised learning models predict outcomes based on labeled training data. Unsupervised learning models identify patterns and relationships in data without explicit labels. Reinforcement learning models learn optimal actions through trial and error. Deep learning models, a subset of machine learning, use neural networks with multiple layers to analyze various levels of data abstraction, enhancing learning from vast amounts of data for applications like image and speech recognition.