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Report: US Treasury Has Used AI to Catch $1B in Fraud This Year

  • #Artificial Intelligence
  • #Fraud and swindling
  • #United States of America
Report: US Treasury Has Used AI to Catch $1B in Fraud This Year
story
OCT 2024
Image copyright: Al Drago/Contributor/Bloomberg via Getty Images
story last updated OCT 2024

The Spin

Narrative A

While we must be cautious around these novel technologies, this news should excite every American taxpayer who wants their money well cared for and spent. With machine learning, AI can constantly improve its skills to detect patterns of fraud in milliseconds. We'll always need humans to ensure proper use, but with the help of AI, criminals should prepare for a hard road ahead — and taxpayers should rest assured that their contributions are well taken care of.

CNN

Narrative B

While the government offers nice platitudes about using AI for good while restraining its bad aspects, the truth is that the corporations that own these technologies also own the government. The US federal government, which played a significant role in funding AI development, is now handing it over to corporations to control every aspect of our lives. The interrelationship between the public sector and Silicon Valley's AI complex needs close scrutiny.

Project Syndicate

Metaculus Prediction


The Controversies


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Status:Open
Will AI Bring Economic Risks?
Controversy
OCT 18 2024OCT 18 2024

Go Deeper

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