There are some interesting differences between Mathematical Models and Machine Learning models which have important consequences.
Consider, Isaac Newton's Second Law of Motion:
$ F = MA $
This simple equation (or model) provides us with much more than just an answer. Think of the computer in Hitchhikers Guide to Galaxy that answers the question
What is the meaning of life?
with
"42".
This illustrates the problem of being given an answer without a theoretical framework or context in which to understand it.
From the equation F=MA I can also derive:
$ M = \frac{F}{A}$
Using Calculus I an also derive:
$ F = M\ddot{X} $
since acceleration is the 2nd derivative of displacement.
Mathematical Models are created through understanding the problem. So when they work, they don't just give us an answer, they also give us some insight into the problem and it's underlying mechanisms.
One advantage of machine learning techniques is that they can give accurate approximations or answers without requiring any theory or understanding upfront. However, the answer is provided without context and can't be as easily manipulated to create further knowledge or hypotheses.
Also, a neural network can't recreate a simple equation like F=MA without using considerable computation compared to a simple multiplication. This gives you some idea why machine learning is sometimes referred to as a "black box" or "brute force" approach. See Simplest way for ANN to learn F = MA?