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With the continuous development of technologies, our society is approaching the next stage of industrialization. The Fourth Industrial Revolution also referred to as Industry 4.0, redefines the manufacturing system as a smart and connected machinery system with fully autonomous operation capability. Several advanced cutting-edge technologies, such as cyber-physical systems (CPS), the internet of things (IoT), and artificial intelligence, are believed to the essential components to realize Industry 4.0. In this paper, we focus on a comprehensive review of how artificial intelligence benefits Industry 4.0, including potential challenges and possible solutions. A panoramic introduction of neuromorphic computing is provided, which is one of the most promising and attractive research directions in artificial intelligence. Subsequently, we introduce the vista of the neuromorphic-powered Industry 4.0 system and survey a few research activities on applications of artificial neural networks for IoT.