⚡️ The IRS Comes Knocking

PLUS: Time Magazine unveils 100 AI heavyweights

September 11, 2023

It’s Monday. The IRS is cracking down on tax evasion using AI. Will this impact your return? Let’s find out.

Today's Highlights:

  • Time Magazine unveils 100 AI heavyweights

  • G20 countries commit to responsible AI development

  • Meta gears up to compete with OpenAI's GPT-4

DEEP DIVE

The IRS Comes Knocking

Earning big bucks? Your chances of dodging taxes just got slimmer with the IRS stepping up its game with artificial intelligence.

The agency has its radar on affluent taxpayers who benefit from "unconventional schemes to evade taxes," freeing the average Joe from "no-change" audits.

“[AI] will help IRS compliance teams better detect tax evasion, identify upcoming compliance risks and improve our case selection tools.”

— IRS Press Release

What’s changing?

  • AI comes into action for high-earning taxpayers with a total income exceeding $1 million and more than $250,000 in tax debts. Those raking in less than $400K per year will remain unaffected.

  • Talking ‘bout heavy hitters—AI will be used to initiate investigations into 75 of the largest U.S. partnerships that document assets that exceed $10 billion on average.

The IRS's AI toolkit aims to ensure that “the rich would be held responsible for what they owe.” But will this herald an era of tax compliance? Or risk pushback from those with deep pockets?

PUNCHLINES

AI Elite: Time magazine unveils its 100 most influential figures in artificial intelligence.

Author Alert: Amazon rolls out new rules, requiring authors to disclose if their content has been AI-generated.

Chip Chaos Continues: GPU shortage expected to last at least until the end of 2024, warns TSMC.

Money talks: Ant Group's financial-focused language model aims to revolutionize wealth management and insurance services.

Cutting Concrete with Code: MIT doctoral student uses AI to design less carbon-intensive yet efficient buildings.

TLDR

G20 Countries commit to responsible AI: G20 leaders have agreed to advocate for "responsible AI development, deployment, and use," emphasizing rights, transparency, privacy, and data protection. They also called for a "pro-innovation regulatory/governance approach" to leverage the benefits of AI while acknowledging its potential risks.

Meta ramps up efforts to match OpenAI's GPT-4: Meta is increasing its artificial intelligence capabilities to compete with top-tier AI chatbots like GPT-4. The company is purchasing more Nvidia H100 chips and enhancing its infrastructure. The upcoming model is expected to accelerate the development of AI tools, including generative AI and multi-personality chatbots.

Machine learning speeds up search for anti-aging drugs: University of Edinburgh researchers used an ML algorithm to identify potential anti-aging drugs rapidly. The algorithm returned three promising matches within minutes, capable of killing aging cells without harming healthy cells. This approach could potentially be used in cancer treatment.

Mathematical proofs could ensure AGI safety: Researchers suggest that mathematical proofs and formal verification could be vital for AGI safety. If implemented, AI systems would need to provide mathematical proof of safety before taking any action. Despite acknowledging technical obstacles, the authors believe the method has potential with positive advances in machine learning for automated theorem proving.

Roblox introduces AI Assistant for creators: Roblox unveils a new conversational assistant that assists creators in building virtual environments and objects for the social platform using generative AI. Future enhancements may include creating 3D models from scratch and generating complex gameplay.

TRENDING TOOLS

🗂️ Dokkio AI: Eliminate digital clutter with an AI-powered organizer

🐇 Coderabbit: Boost your code reviews using AI

💼 Optimove: Empower your business with customer-led marketing

📲 Clevis: Create AI-powered apps effortlessly

🍻 Pantry: Brew/Docker for LLMs

And that’s a wrap—if you have any questions or something interesting to share, please feel free to reply to this email. We’d love to hear from you!

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