Information retrieval systems have progressed notably from lexical techniques such as BM25 and TF-IDF to modern semantic retrievers. This survey provides a brief overview of the BM25 baseline, then discusses the architecture of modern state-of-the-art semantic retrievers. Advancing from BERT, we introduce dense bi-encoders (DPR), late-interaction models (ColBERT), and neural sparse retrieval (SPLADE). Finally, we examine MonoT5, a cross-encoder model. We conclude with common evaluation tactics, pressing challenges, and propositions for future directions.