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Recent advances in deep learning and scientific machine learning (SML) offer a wide spectrum of novel tools with the potential to radically transform various areas of academic research, industrial research and development (R&D), and manufacturing. These include inverse device design, data-driven equation discovery, rapid approximate partial solutions to differential equations for exploring the design space, automated metrology and manufacturing process control, new materials design, and the creation of fast and realistic digital twins for virtual testing and design optimization. The purpose of this review is to assist R&D practitioners, who are not specialists in artificial intelligence, in navigating this complex and dynamic landscape, enabling them to adopt modern machine learning (ML) methods in their work. We particularly emphasize the potential advantages of deep learning methods for the field of thin film device development, highlighting the main approaches and points of their applications in R&D design and process. The review is organized into several sections. First, we provide a brief overview of machine learning and deep learning, introducing basic neural network architectures and describing their possible use cases relevant to industrial R&D. In Sec. III, we introduce examples of ML approaches enabling the reduction of dependency on the amount of input data and improving generalization capabilities of neural networks through introduction of realistic inductive biases in the form of symmetries, conservation laws, physics equations, etc. Then we review some of the most successful large-scale SML models, including foundational materials simulation and generation models. Finally, we discuss existing and prospective applications of ML models in different aspects of thin film devices development.