The study aims to develop and evaluate failure prediction models that accurately predict crack initiation sites, fatigue life in additively manufactured Ti-6Al-4V, and burst pressure in relevant applications.The first part proposes a classification model to identify crack initiation sites in AM-built Ti-6Al-4V alloy. The model utilizes surface and pore-related parameters and achieves high accuracy (0.97) and robustness (F1 score of 0.98). Leveraging CT images for characterization and data extraction from the CT-images built STL files, the model effectively detects crack initiation sites while minimizing false positives and negatives. Data augmentation techniques, including SMOTE+Tomek Links, are employed to address imbalanced data distributions and improve model performance. This study proposes the Probabilistic Physics-guided Neural Network 2.0 (PPgNN) for probabilistic fatigue life estimation. The presented approach overcomes the limitations of classical regression machine models commonly used to analyze fatigue data. One key advantage of the proposed method is incorporating known physics constraints, resulting in accurate and physically consistent predictions. The efficacy of the model is demonstrated by training the model with multiple fatigue S-N curve data sets from open literature with relevant morphological data and tested using the data extracted from CT-built STL files. The results illustrate that PPgNN 2.0 is a flexible and robust model for predicting fatigue life and quantifying uncertainties by estimating the mean and standard deviation of the fatigue life. The loss function that trains the proposed model can capture the underlying distribution and reduce the prediction error. A comparison study between the performance of neural network models highlights the benefits of physics-guided learning for fatigue data analysis. The proposed model demonstrates satisfactory learning capacity and generalization, providing accurate fatigue life predictions to unseen examples. An elastic-plastic Finite Element Model (FEM) is developed in the second part to assess pipeline integrity, focusing on burst pressure estimation in high-pressure gas pipelines with interactive corrosion defects. The FEM accurately predicts burst pressure and evaluates the remaining useful life by considering the interaction between corrosion defects and neighboring pits. The FEM outperforms the well-known ASME-B31G method in handling interactive corrosion threats.