This open access book provides a state-of-the-art overview of current machine learning research and its exploitation in various application areas. It has become apparent that the deep integration of artificial intelligence (AI) methods in products and services is essential for companies to stay competitive. The use of AI allows large volumes of data to be analyzed, patterns and trends to be identified, and well-founded decisions to be made on an informative basis. It also enables the optimization of workflows, the automation of processes and the development of new services, thus creating potential for new business models and significant competitive advantages. The book is divided in two main parts: First, in a theoretically oriented part, various AI/ML-related approaches like automated machine learning, sequence-based learning, deep learning, learning from experience and data, and process-aware learning are explained. In a second part, various applications are presented that benefit from the exploitation of recent research results. These include autonomous systems, indoor localization, medical applications, energy supply and networks, logistics networks, traffic control, image processing, and IoT applications. Overall, the book offers professionals and applied researchers an excellent overview of current exploitations, approaches, and challenges of AI/ML-related research.