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The term “industry 4.0,” or “fourth industrial revolution,” refers to a change in manufacturing toward a more automated, linked, and data-driven process. Smart factories are made possible by technologies such as artificial intelligence (AI), robotics, big data, data analytics, and machine learning. Machine learning (ML) is a crucial element of smart manufacturing, which aims to increase production’s efficiency, quality, and adaptability. ML models can be trained to detect anomalies in production processes and analyze customer data to find unexplored business prospects.