Artificial Intelligence (AI) is a key component of Industry 4.0 needed for dealing with excessive amounts of data and enabling autonomy and flexibility in emerging smart production environments. A particular challenge for AI systems in this context is to utilize the closely related tasks of optimization and decision-making. Their importance arises from the fact that many real-world optimization problems include multiple, often conflicting objectives. We will present examples of industrial applications of AI in engineering design, optimization of a manufacturing process and product quality control.