ABSTRACT
Machine learning (ML) has a long record of successfully enabling automation due to its scalable predictive values. A new era of industrial processes and value chains is referred to as Industry 4.0. Industry 4.0 technologies incorporate ML. This technologically advanced nature foretells the complexity of ML as it incorporates elements from various fields of study.
Purpose: This chapter examines what ML is, how it works, and its benefits or uses in the corporate world. These applications support benefits and enhancements in the industry value chain by merging other 4.0 techniques, such as artificial intelligence (AI), Internet of Things (IoT), and super-intelligent machines. This chapter focuses on evaluating ML models to assist Industry 4.0 and learners in developing business solutions.
Methodology: Industrial settings are perfect examples of how ML can be used to solve complex problems. Furthermore, without reviewing an enormous number of sources, it is difficult to understand clearly where ML currently overlaps with Industry 4.0.
A systematic approach to evaluating and contrasting ML models using tables and flowcharts can benefit designing business solutions in Industry 4.0.
Outcomes: Machine learning, a technological solution associated with Industry 4.0, provides several benefits to the operation when applied in the commercial and industrial context. Systematic study and data analysis will serve as models for new research and business strategic planning.
Originality/Value: Concepts, models, and applications from this chapter will be used in new investigations, development of business solutions, and action plans. The technology-driven solution associated with Industry 4.0 and ML provides numerous benefits to the business process once it is implemented in commercial and industrial settings.
