To lower the introduction and maintenance costs of autonomous power supplies for driving Internet-of-things (IoT) devices, we have developed low-cost Fe−Al−Si-based thermoelectric (FAST) materials and power generation modules. Our development approach combines computational science, experiments, mapping measurements, and machine learning (ML). FAST materials have a good balance of mechanical properties and excellent chemical stability, superior to that of conventional Bi− Te-based materials. However, it remains challenging to enhance the power factor (PF) and lower the thermal conductivity of FAST materials to develop reliable power generation devices. This forum paper describes the current status of materials development based on experiments and ML with limited data, together with power generation module fabrication related to FAST materials with a view to commercialization. Combining bulk combinatorial methods with diffusion couple and mapping measurements could accelerate the search to enhance PF for FAST materials. We report that ML prediction is a powerful tool for finding unexpected off-stoichiometric compositions of the Fe−Al−Si system and dopant concentrations of a fourth element to enhance the PF, i.e., Co substitution for Fe atoms in FAST materials.