A method for controlling operation of a wind turbine includes collecting training data, training a machine learning model, obtaining recent data, and applying the machine learning model the recent data to output a reference power or reference power differential corresponding to the recent data. The machine learning model is then applied to the recent data to output at least one of estimated power or estimated power differential corresponding to values of the pitch setpoints and the tip speed ratio setpoints which differ from the recent data. A turbine setting is determined by comparing the estimated power or estimated power differential to the reference power or reference power differential, and then applying the turbine setting to the wind turbine if the estimated power or estimated power differential is greater than or equal to a threshold amount above the reference power or reference power differential.