Google's Eric Schmidt: Machine learning will cause 'every successful huge IPO win in 5 years'

Google's billionaire executive chairman Eric Schmidt (who describes himself as "a programmer who sort of got lucky at Google") says he's seen the future of wealth creation from the IT industry and its name is "machine learning." So he said during a keynote speech during Google's Cloud Computing Platform tech conference on Wednesday in San Francisco. This is the next transformation," Schmidt says. "I'm a programmer who sort of got lucky at Google. But the programming paradigm is changing.