Our mission is to develop the next generation of advanced machine learning tools for controlling complex physical systems by discovering physically interpretable and physics-constrained data-driven models through optimal sensor selection and placement. Our work is anchored by a common task framework that evaluates the performance of machine learning algorithms, architectures, and optimization schemes for the diverse tasks required in engineering applications. We will push beyond the boundaries of modern techniques by closing the loop between data collection, control, and modeling, creating a unique and cross-disciplinary architecture for learning physically interpretable and physics constrained models of complex dynamic systems from time series data. The common task framework will further support sustainable and open-source challenge datasets, which will be foundational for developing interpretable, ethical, and inclusive tools to solve problems fundamental to human safety, society, and the environment.