Artificial intelligence (AI) and machine learning (ML) are rapidly becoming integral to the 5G Radio Access Network (RAN), enabling beam management, channel state information (CSI) feedback, positioning, and mobility prediction. However, without a standardized life-cycle management (LCM) framework, challenges such as model drift, vendor lock-in, and limited transparency hinder large-scale deployment. 3GPP Releases 17--20 have progressively introduced AI/ML management and air-interface support, covering model training, validation, deployment, inference, data collection, performance monitoring, applicability assessment, and feature-specific control. Release 20 further extends these capabilities to two-sided CSI compression and inter-vendor model operation. This article reviews the resulting five-block LCM architecture, KPI-driven monitoring mechanisms, and inter-vendor collaboration schemes. We further propose an enhanced LCM framework with detailed interactions across functional blocks and an integrated procedure for reference-model and vendor-model development in two-sided operation, and identify open challenges in resource-efficient monitoring, environment drift detection, intelligent decision-making, and flexible model training. These developments provide a foundation for AI-native transceivers in 6G.

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