Earlier quoted context omitted.
There is a theoretically optimal machine learning algorithm called Solomonoff Induction. Solomonoff Induction assumes a prior over all possible computer programs that could have produced the data. And it assumes that shorter, simpler programs are more likely than longer, more complex ones. Under such a prior, the no free lunch theorem doesn't apply. NFLT assumes that all machine learning problems have infinite inform…
Solomonoff Induction isn't really an "algorithm" in the way we normally think of algorithms, as it isn't computable. There are computable approximations, but at that point, you lose the claim of theoretically optimal.
True, but I'm surprised more work isn't being done on "searching the space of programs that produce the data". There's very little research on this topic other than a few papers on minimum description length (MDL). I feel that this is probably the eventual route to AGI. We know what the "optimal" predictor is in theory; now work out the best time/memory approximation to it for practical purposes.