This chapter reports on the state of the art in metal additive manufacturing (AM) processes and particularly provides insight into the development of precision AM processes. The setting of priorities, significant process parameters and performance indicators for the laser powder bed fusion process, as well as reasons for lack of process precision, are presented. This is followed by a discussion on data-driven process development approaches, including design of experiments, statistical analysis and modelling and optimisation of the process parameters. Real-time monitoring, artificial intelligence and decision-making systems for digital quality control are then discussed as examples of cutting-edge techniques for holistic precision process development in the context of Industry 4.0. Finally, the chapter highlights the future prospects for further research that could see the widespread adoption of AM technologies by industry, together with four business pathways that companies can adopt to integrate AM into their businesses.