That is definitely in use on many assembly lines in the world today. I saw a camera system that was used to ensure that diabetic needles had the proper cut on the end. It processed thousands of needles an hour.

However, there is always the question of ROI for these types of systems. For many consumer goods it's usually cheaper to just replace broken items than to QA everything to that extent. Thats not allowable on medical devices, airplanes, cars, etc.