That's sorta the way society has functioned for millenia. In the 20th century alone, hundreds of millions of people have died miserable deaths because some guy in power had an incorrect model of reality.

It sucks, it's not fair or just, and everything would run more smoothly if we were omniscient beings living in a completely egalitarian society. Unfortunately, that's not the reality we live in. In the meantime, we accept it as simply fate or vulnerability, and muddle through as best as we can.

Isn't that just the plot of Minority Report?

Think of the possibilities of machine learning for detecting precrime!

It's already here. See http://www.predpol.com/

I think the OP meant the use of ML to predict and individual committing a crime, and jailing/arresting them based on that.