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Machine Learning (ML) is a branch of artificial intelligence that studies algorithms able to learn autonomously, directly from the input data. Over the last decade, ML techniques have made a huge leap forward, as demonstrated by Deep Learning (DL) algorithms implemented by autonomous driving cars, or by electronic strategy games. Hence, researchers have started to consider ML also for applications within the industrial field, and many works indicate ML as one the main enablers to evolve a traditional manufacturing system up to the Industry 4.0 level. Nonetheless, industrial applications are still few and limited to a small cluster of international companies. This paper deals with these topics, intending to clarify the real potentialities, as well as potential flaws, of ML algorithms applied to operation management. A comprehensive review is presented and organized in a way that should facilitate the orientation of …