Measurements of transverse profiles using ionization profile monitors (IPMs) for high brightness beams are affected by the electromagnetic field of the beam. This interaction may cause a distortion of the measured profile shape despite strong external magnetic field applied to impose limits on the transverse movement of electrons. The mechanisms leading to this distortion are discussed in detail. The distortion itself is described by means of analytic calculations for simplified beam distributions and a full simulation model for realistic distributions. Simple relation for minimum magnetic field scaling with beam parameters for avoiding profile distortions is presented. Further, application of machine learning algorithms to the problem of reconstructing the actual beam profile from distorted measured profile is presented. The obtained results show good agreement for tests on simulation data. The performance of these algorithms indicate that they could be very useful for operations of IPMs on high brightness beams or IPMs with weak magnetic field.