Industry is very broad since there are so many different applications large tech companies are working on. The needs are pretty much the same, it just depends on what specific project it is (ads targeting, email autocompletion, heart rate detection, etc.). I would say the major difference is learning how to scale these algorithms for use across thousands, maybe millions of users but this has pretty much been figured out.
Pretty much everything out of theoretical ML is applied, so if you're interested in working with text data pursue projects in NLP or if you like image + video data, pursue Computer Vision!