Earlier quoted context omitted.
I am a mathematician by trade, and was doing development along with other stuff (reverse engineering and security work, first in my own company, then at Google). So ... 1) I think working knowledge of ML is extremely useful to many developers, and generally under-taught in universities. See the old Joel article which mentions "Google uses Bayesian filtering like MS uses the IF statement" http://www.joelonsoftware.com…
I don't think your points are invalid, but I think you overvalue the data that's available and relevant to most programming tasks. And without novel data, ML can offer little novel value. Google, Facebook, M$ Research, and perhaps Yahoo are extreme outliers. They have zottabytes of broad unstructured text data, so they mine it. Everybody else has megabytes of narrow structured data, most of it commercial transations…
Humans have been gathering and analyzing data for thousands of years. We have _not_ waited for Google's latest ML or neural nets to do analyses. Otherwise I'd be carving this post onto a stone for future generations to peruse.
The valuable and understandable AI, the step that will make a difference, isn't in "big data" - it's in figuring out how to do what those humans have been doing all those thousands of years.