Chris Bishop's Pattern Recognition and Machine Learning is a good recent book aimed at 'advanced undergraduates'. It seems to be 'the book' in ML right now. Norvig and Russel's AIMA is a good general AI resource. The twice annual machine learning summer schools get videoed and put up on videolectures.net. Really good introductory lectures from the basics on up to various application areas. Even better if you can go to one and pick the presenters brains for a couple weeks, they are intended for both new graduate students and interested people from industry. After that there are specialized books in the (many) subfields.