Lots of data won't do any good with imperfect algorithms. Just look at all the nonsense generated by Google Translate. It doesn't even know grammar.
Look at Norvig (Google's head of research, and AI-demigod) at al's paper "The Unreasonable Effectiveness of Data."
But it still produces a great deal of nonsense.
My only semi-informed opinion (hunch) is that the Google/Norvig brand of statistical approach to AI is a 80% solution to a lot of things, but that last 20% is going to be killer to get.
Right now this approach to AI is a great boost for humans, who can finish off that last 20% themselves, but I have doubts about the autonomous versions...
I am curious to see what happens with the self-driving car in real world use. And if translate ever gets much better than it is today. Or if, for that matter, Google search gets much better than it is today.