Smart manufacturing is an entire paradigm change in production systems; the traditional manufacturing mechanism has been easily supplemented with the most advanced digital technologies, which include AI (artificial intelligence), deep learning, IoT (the Internet of Things), and cyber-physical systems. This study reviews Email Correspondence and consolidates a very recent contribution and comparative analysis result from the most diverse sets of studies to provide the reader with a holistic approach to constituting the evolution and implementation of smart manufacturing paradigms in the much larger picture of Industry 4.0. The review is organized around topical themes such as the transition from traditional to intelligent manufacturing, differences and similarities of Smart manufacturing with intelligent manufacturing, and changes from digital technologies to improved process efficiency, quality control, and decision-making. It highlights the fact that AI and data-based methods are adaptive in solving challenging problems related to. However, manufacturing also provides important aspects of physical-cyber adoption, interoperability, cybersecurity, and standardization. It also studies keywords in publications to perform bibliometric analyses, which recognize and critically assess the main emerging issues of modern technology, such as the integration of the human-cyber physical system, digital twins, predictive maintenance, and sustainable production strategies. This statement captures both the latest advances and the challenges of high relevance in the field, with a vision for the future of research and practice. Furthermore, this would also serve as a handy document for researchers and industry practitioners by bringing together the latest state-of-the-art modern developments, pointing out the gaps in the literature and even laying down a road map for future innovations in smart manufacturing systems.