Smart device industry allows developers and designers to embed different sensors, processors, and memories in small-size electronic devices. Sensors are added to enhance the usability of these devices and improve the quality of experience through data collection and analysis. However, with the era of big data and machine learning, sensors’ data may be processed by different techniques to infer various hidden information. The extracted information may be beneficial to device users, developers, and designers to enhance the management, operation, and development of these devices. However, the extracted information may be used to compromise the security and the privacy of humans in the era of Internet of Everything (IoE). In this work, we attempt to review the process of inferring meaningful data from smart devices’ sensors, especially, smartphones. In addition, different useful machine learning applications based on smartphones’ sensors data are shown. Moreover, different side channel attacks utilizing the same sensors and the same machine learning algorithms are overviewed.