It depends on where you work.
Blue Sky uses their own renderer. It uses indirect lighting by default. And while they don’t like to mention too much, it’s probably a path tracer. (It’s slooooow)
Renderman is the most often used renderer for animated film and they indeed use indirect lighting, but it’s not generally raytraced since that erodes the benefit of rasterization. They will use point clouds to render indirect lighting without having to raytrace. Non-raytraced shadows are also faster to motion blur because they are a post-process. This also works well with a REYES rendering engine.
VFX work will use a raytracer more often than not.
So you can indeed use GI lighting and set-up practical lights in your scene. A lot of the “baking” process is hidden from most lighting artists at places like ILM, Disney, or Pixar because they have a lot of tools and massive development behind them to simplify the workload.
Point-Based Global Illumination
You can find more in the above link about the technical aspects of how a lot of GI can be implemented in Animated Feature Film