ABSTRACT It involves the completely novel ways of integrating ML algorithms with traditional statistical modelling that has changed the way we analyze data, do predictive analytics or make decisions in the fields of the data. In this paper, we study some ML and statistical model connections to understand ways in which some modern ML algorithms help'enrich' conventional models; we demonstrate how new algorithms improve performance, scale, flexibility and robustness of the tradi tional models. It shows that the hybrid models are of great improvement in predictive accuracy, robustness, and interpretability. Keyword: Machine Learning, Statistical Modelling, Regression, Classification, Predictive Analytics, Hybrid Models, Dimensiona lity Reduction, Algorithmic Bias, Interpretability, Cross - Disciplinary Applications 1. INTRODUCTION Statistical modelling has very historically been the theoretical framework to understand relationships between variables and make inferences and test hypothes es. Its strength is that it is able to offer interpretations in terms of interpretable parameters and probabilistic assumptions [15].