Machine learning, an obnoxious term, that simply means statistical modeling, has the potential to lead many budding data scientists and universities clamoring to create programs that support it, down blind alleys. Machines do not learn and apparently, those immersed in this concept do not either. In the coming decade, "Machine learning," could create a significant drag on the economy as the hype is pumped up by "reputable," academic institutions, software companies and even politicians.
Regression was the "original," machine learning. The statistical modeling platforms have added all sorts of ancient mathematics in neat little packages, they sometimes even call, Artificial Intelligence. But calling Arithmetic better names, does not improve anything, let alone intelligence. What is most disappointing is the fact that universities have created entire programs around this "fake news," as they have seen favorable economics and the possibility of their graduates skating to the C suite on the back of degrees. Academic integrity used to be important and as the crop of professors who loved to advance knowledge, vanish behind time, we are approaching a regime that will devalue education. We have education rendering casinos, with all the adornments that surpass the real thing and the bricks in the wall they manufacture are going to be incompetent to face the future.
Hype has a negative value. Academic institutions should understand this. If they do not, the only competitive advantage we possess, graduate education, could be at risk. Perhaps it is time we shut down the .ai domain names and academic courses designed to appeal to pure hype.