Have you tried to install the driver with the following method Desktop graphics drivers — How to Manually Install a Driver in Microsoft Windows 8* or Windows 8.1*?
If the issue persists could you please let us know the processor model and the operating system that you are using?
I have tried your suggestion and i seem to be running into a new issue. The first screenshot shows the drivers i am trying to update. When trying to download the zip file for the 'Graphics Accelerator', I get error message shown in the second screenshot. I also downloaded an exe for the graphics accelerator driver which seems to install but after rebooting, the same driver version is shown. When I download the chipset device software exe, the install seems to complete but after i run the Intel Driver Update Utility, I see that the old version is still installed. I am running Win 7 64bit with an I3 processor
Here Downloads for Intel® HD Graphics for Intel® Core™ Processors you will be able to find the latest graphics driver version for your graphics controller.
In this case the driver version that you have installed .2993 is in fact the latest version for your operating system. Drivers are often referred to by either build number or driver version, there is no difference between the two. The rest of numbers are just for internal reference.
For further reference Graphics Drivers — Understanding The Intel® Graphics Driver Version Number.