Different approaches suit different people and PHD is a relatively specialized route. It's good to have people targeting similar goals with different approaches.
For an anecdote, I recall hearing one of the Kaggle founders mention that many of their bounties are won by non-statisticians/ML-ists. Producing novel (in the academic sense) stuff is unlikely outside of an academic setting, but producing products or solving problems is do-able.
Edit/comment: no need to downvote rsrsrs86 people. He's putting forward a position and defending it, not trolling. If you disagree, then disagree. The whole point of a thread like this is hearing people's take. Surely, PHD is a valid suggestion.
For an anecdote, I recall hearing one of the Kaggle founders mention that many of their bounties are won by non-statisticians/ML-ists. Producing novel (in the academic sense) stuff is unlikely outside of an academic setting, but producing products or solving problems is do-able.
Edit/comment: no need to downvote rsrsrs86 people. He's putting forward a position and defending it, not trolling. If you disagree, then disagree. The whole point of a thread like this is hearing people's take. Surely, PHD is a valid suggestion.