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Don't worry, the hype will die sooner than later, just like with cryptocurrencies. What will remain are the power and resource hungry statistical models doing nice work in some specific domains, some long faces and some people having made a bunch of money from it. But yeah, the term also makes me angry, that's why I started referring to them as statistical models.
Am I the only one seeing a parallel between the spectrum planned <-> "free"-market economy and classical algorithm <-> statistical model/ML? It seems that some people prefer to have some magic invisible handle their problems instead of doing the tough work. I'm not saying that there is not space for both but we seem to be leaning on the magic side a bit too much lately.
I remember earlier on feeling that way about ML as a programmer. That in significantly complex enough task it seemed like a good tool to avoid hard coded logic, but hard coded logic if done right could be better on resources.
Basically from a resource perspective it's person < ML < code. So most of the time you want code but the higher upfront cost changes the ROI.