Using Artificial Intelligence to Reduce Tax Fraud


The terms "artificial intelligence" and "machine learning" immediately bring up thoughts from movies like "The Matrix" where machines become self-aware and want to end the world. While this may make for an exciting plot in Hollywood, it is not reality outside of the theater. In real life, however, machine learning--which gives computers the ability to see hidden patterns in existing data and progressively improve performance ("learn") without being explicitly programmed--serves as a practical tool to data analysts. The job is not to turn robots into people, but instead efficiently find recurring themes that would otherwise remain obscured inside of large amounts of data to provide end-users with actionable information. These technologies have played a pivotal role in reducing fraud, waste and abuse in organizations of all types and sizes, including departments of revenue that collect taxes.

How machine learning can help you predict court decisions


Machine learning is now able to analyze court decisions and predict how judges may respond in certain situations, based on an analysis of existing caselaw. Artificial intelligence technology is currently available to analyze tax and employment caselaw, but it's easy to see how this could be relevant to the insurance space as well โ€“ particularly in the claims area. Potential uses could include analysis of decisions around tort liability, for example, or accident benefits cases. A tax law expert recently provided an illustration of how the technology works in a webinar Wednesday. Benjamin Alarie, CEO and co-founder of Blue J Legal, uses the artificial intelligence suite to predict how the courts may decide issues about things such as tax deductions.

No large tax bill sees IBM Australia pocket AU$40m 2017 profit


IBM Australia has made its financial results for 2017 available, reporting to the Australian Securities and Investments Commission it raked in AU$40 million in after-tax profit, more than double its 2016 AU$16.8 million lull. Revenue for the 12 months to December 2017 was reported as AU$2.8 billion, a decrease from 2016's AU$3.2 billion. Receipts from customers totalled AU$2.6 billion, while AU$2.5 billion was paid out to suppliers and employees. During the 12-month period, the local arm of IBM paid AU$8.4 million in tax, almost half of the AU$13.9 IBM considers its principal continuing activities in Australia to be the provision of advanced information services, products, and technologies, including the marketing of imported and locally produced information processing equipment, software, and supplies.

Tax Refund Tech Deals: Roomba, Essential Phone, Dell, Sony


If you're in the mood for shopping, this is a great, great week. Especially if you're awaiting a juicy tax refund, why not treat yourself to something you probably need? Nintendo's Labo kits come out this Friday and are currently available for pre-order. You can learn more about the kits, which we love, and how to order them, here Our friends at TechBargains have also found our favorite robot vacuum, the iRobot Roomba 690, on sale. The Roomba 690 lets you enjoy iRobot's top-of-the-line navigational engineering at an accessible price point.

10 Reviewed-approved ways to spend your tax return


If you make a purchase by clicking one of our links, we may earn a small share of the revenue. However, our picks and opinions are independent from USA TODAY's newsroom and any business incentives. So, you finally got your tax return back. It's almost as if money has magically appeared in your bank account. So what are you going to spend it on?

How Universal Basic Income Could Save America


On December 15, 2017, the United Nations Special Rapporteur on extreme poverty and human rights, Philip Alston, issued a damning report on his visit to the United States. He cited data from the Stanford Center on Inequality and Poverty, which reports that "in terms of labor markets, poverty, safety net, wealth inequality, and economic mobility, the US comes in last of the top 10 most well-off countries, and 18th amongst the top 21." Alston wrote that "the American Dream is rapidly becoming the American Illusion, as the US now has the lowest rate of social mobility of any of the rich countries." Just a few days before, on December 11, The Boston Globe's Spotlight team ran a story showing that the median net worth of nonimmigrant African American households in the Boston area is $8, in contrast to the $247,500 net worth for white households in the Boston area. Clearly income disparity is ripping the nation apart, and none of the efforts or programs seeking to address it seems to be working. I myself have been, for the past couple of years, engaged in a broad discussion about the future of work with some thoughtful tech leaders and representatives of the Catholic Church who have similar concerns, and the notion of a universal basic income (UBI) keeps coming up.

Powering the Individual โ€“ Why AI is the Future for the Federal Government


From there, we heard from two very exciting and innovative emerging technology companies that are each using AI to accomplish amazing things within the enterprise. The first was Astound, which is using AI to help make constituent and employee service more efficient and effective. The second was Cylance, which spoke to us about how AI can help secure networks and fight cyber threats. These are two exciting companies doing exciting things. And that's something that the federal government should be extremely excited about.

Preparing for the economic impact of artificial intelligence


The coverage and hype around artificial intelligence (AI) is reaching fever pitch. Key questions explore how it might impact people's lives and employment over the next five to ten years. These lead to questions over how to fund tax revenue shortfalls and higher unemployment costs. In practice, it's too early to know how fast AI will advance, how far it will spread into society, whether it will reach a state of superintelligence where it outsmarts humans at everything, or the net employment impact. This article explores the key economic questions that arise around the potential impact of AI on jobs in society, with a focus on robot taxes as a way of funding higher unemployment benefit costs or Guaranteed / Universal Basic Income (UBI) and Universal Basic Services (UBS) schemes.

A new fiscal policy for a world of accelerated change and artificial intelligence


In the decade since the Great Recession, governments have used fiscal policy to prop up flagging domestic demand. This response has been considered appropriate because the shock was seen as temporary. But this attention to demand-side weaknesses may have distracted governments from attending to supply-side gaps that have been widening with the acceleration of technological change and artificial intelligence. Policymakers should start paying more attention to what's called structural fiscal policies, that is, changes in both public spending and tax collection to aid the expansion of the productive potential of economies. As laborsaving technologies flood the market, delays in doing this could mean that workers pay a stiff price, while consumers do not realize many of the benefits.

Wells Fargo AI platform says Amazon's HQ2 will be in Boston

Daily Mail

Atlanta was Georgia's only applicant and is considered a front runner, with an Amazon lobbyist visiting the city in December. Atlanta never disclosed the details of the proposal it submitted for HQ2, but it described it as'aggressive' in terms of incentives offered. City officials did not specify what the incentives were. 'On the city side alone, we put forth more incentives than we've ever put forward in the history of the city,' Mayor Kasim Reed said last year, adding that'nothing was left on the table.' Austin did not promise any financial incentives or city tax cuts with its proposal.