Adam Smith, the "father of economics" and one of the original theorists of capitalism, believed that capitalism worked because each participant in the marketplace had an approximately equal capacity with respect to other participants to understand the value which he was exchanging with others. Some people are more clever, or have better memories, or are simply more industrious, but on the whole we are all human beings, and our ability to know more than another has an upper bound.
That's not true of machine learning. There is no upper bound. Under surveillance capitalism, there is no limit to what the large companies can know about what you know, can monitor what you do, and can predict what you want. And as long as we remain human, that upper bound on large, corporate control of human beings will only get greater.
Heuristics are bug ridden by definition. If they didn't have bugs, then they'd be algorithms.