Generative Artificial Intelligence (GenAI) has demonstrated its capabilities in the present world that reduce human effort significantly. It utilizes deep learning techniques to create original and realistic content in terms of text, images, code, music, and video. Researchers have also shown the capabilities of modern Large Language Models (LLMs) used by GenAI models that can be used to aid hardware development. Formal verification is a mathematical-based proof method used to exhaustively verify the correctness of a design. In this paper, we demonstrate how GenAI can be used in induction-based formal verification to increase the verification throughput.