In other words, though often conflated, information and meaning are not equivalent. "Meaning", as people typically use the word, seems to include some concept of the utility of a bit of information. Most information in typical text/images/sounds/etc. is really quite useless. Being able to discard the useless while keeping the useful actually seems like one of the key traits exhibited by intelligent systems, and this ability is not measured (and perhaps even selected against) by lossless compression performance.
Predicting perfectly is much, much different from predicting well. Machine learning is about the latter, while lossless compression is about the former.
So instead of using 64 bits to specify the x y coordinates of every point on the plot, you could just use a much smaller number to represent how far it diverges from it's predicted location. You could narrow down the possible locations the point could be in by half, and then you just bits to specify only those possibilities, not all of them.
Exactly, I see the same problem. With the current rules, this is just a challenge of text compression.
I believe compressing the knowledge in the Wikipedia would be more akin to extracting meaning with NLP into a highly-normalized dataset, and then compressing that. From an AI perspective, this is more close to how our memory actually works. Unless you're savant, you don't memorize the actual text of a topic, but the inferred associations, which compress much better, although lossy.
So what separates the two is the error metric, in other words, how much humans would bother if you replaced y for x. But this involves humans, not general intelligence -- you'd need a lot of testing with actual humans to get good results (jpeg has extensive testing to find optimal quantizers for chroma values based on human perception, for example).
Not that the latter would not be interesting too; I just think it's less practical.
Relevant: http://www.stanford.edu/class/ee368b/Handouts/04-RateDistort...
Imagine, for instance, how many articles there are about how A has relation R with C, and B also (e.g., George Washington was a president of the USA, Abraham Lincoln also). For some definition of "understanding", you wouldn't need to encode data about the text of both articles A and B, you could use NLP to somehow store just the ontology. The problem would change from encoding text to encoding a graph. So it would be a lossy process (because you wouldn't be able to decompress into the original Wikipedia), but in my opinion seems more relevant to AI than bothering with the original corpus.