This literature review investigates the integration of machine learning (ML) into optical metrology, unveiling enhancements in both efficiency and effectiveness of measurement processes. With a focus on phase demodulation, unwrapping, and phase-to-height conversion, the review highlights how ML algorithms have transformed traditional optical metrology techniques, offering improved speed, accuracy, and data processing capabilities. Efficiency improvements are underscored by advancements in data generation, intelligent sampling, and processing strategies, where ML algorithms have accelerated the metrological evaluations. Effectiveness is enhanced in measurement precision, with ML providing robust solutions to complex pattern recognition and noise reduction challenges. Additionally, the role of parallel computing using graphics processing units and field programmable gate arrays is emphasised, showcasing their importance in supporting the computationally intensive ML algorithms for real-time processing. This review culminates in identifying future research directions, emphasising the potential of advanced ML models and broader applications within optical metrology. Through this investigation, the review articulates a future where optical metrology, empowered by ML, achieves improved levels of operational efficiency and effectiveness.