Automatically allocating device resources using machine learning techniques

A non-transitory processor-readable storage medium having stored therein program code of one or more software programs, wherein the program code when executed by at least one processing device causes the at least one processing device:

• to determine values for multiple parameters from data obtained from one or more devices;
• to generate at least one device component failure prediction by applying one or more machine learning techniques to at least a portion of the determined values;
• to compute one or more qualifying values attributable to the at least one generated device component failure prediction by providing the at least one generated device component failure prediction to a conformal prediction framework, wherein the conformal prediction framework comprises an inductive conformal prediction framework;
• and
• to automatically allocate one or more resources to at least a portion of the one or more devices based at least in part on the at least one generated device component failure prediction and the one or more computed qualifying values.

An apparatus comprising:

• at least one processing device comprising a processor coupled to a memory;
• the at least one processing device being configured:
• to determine values for multiple parameters from data obtained from one or more devices;
• to generate at least one device component failure prediction by applying one or more machine learning techniques to at least a portion of the determined values;
• to compute one or more qualifying values attributable to the at least one generated device component failure prediction by providing the at least one generated device component failure prediction to a conformal prediction framework, wherein the conformal prediction framework comprises an inductive conformal prediction framework;
• and
• to automatically allocate one or more resources to at least a portion of the one or more devices based at least in part on the at least one generated device component failure prediction and the one or more computed qualifying values.