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Category Archives: Financial System

AI Comes to the Tax Code

WSJ.com: “Governments are increasingly relying on machine learning and data analytics to analyze troves of data as they seek to detect tax evasion, respond to taxpayers’ questions and make themselves more efficient…The Internal Revenue Service is designing machine-built graphs to plot the relationships among participants in business deals, giving auditors a new tool to analyze transactions and detect tax avoidance. The agency is using artificial intelligence to study notes that agency employees take when fielding questions from taxpayers and testing which combinations of formal notices and contacts are most likely to get a taxpayer who owes money to send a check. The IRS scours data from inside and outside the agency for its compliance initiatives, such as a recent effort to identify thousands of high-income individuals who didn’t file returns. The government is now sending tax collectors to knock on their doors…”

Coronavirus Live Updates: Disruptions, Rising Cases, Market Tremors,Warnings

The New York Times Coronavirus Live Updates: “For the U.S., it’s not if but when, federal officials say. Americans should brace for the likelihood that the coronavirus will spread to communities in the United States, the Centers for Disease Control and Prevention warned Tuesday. “It’s not so much of a question of if this will… Continue Reading

Artificial intelligence What Think Tanks are thinking

European Parliamentary Research Service Blog: “Artificial intelligence (AI) is usually understood as the ability for a machine to display human-like capabilities such as reasoning, learning, planning and creativity. The ‘Holy Grail’ for many governments and companies seeking to benefit from the digital revolution, the first to invent and apply true AI could achieve an enormous… Continue Reading

When Speakers Are All Ears

When Speakers Are All Ears – Understanding when smart speakers mistakenly record conversations. Daniel J. Dubois (Northeastern University), Roman Kolcun (Imperial College London), Anna Maria Mandalari (Imperial College London), Muhammad Talha Paracha (Northeastern University), David Choffnes (Northeastern University), Hamed Haddadi (Imperial College London) Last updated: 02/14/2020 Summary – Voice assistants such as Amazon’s Alexa, OK… Continue Reading

Financial Secrecy Index 2020

Tax Justice Network – “The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. A politically neutral ranking, it is a tool for understanding global financial secrecy, tax havens or secrecy jurisdictions, and illicit financial flows or capital flight. The index was launched on 18 February 2020. The… Continue Reading

Leaked Document Shows How Big Companies Buy Credit Card Data on Millions of Americans

Motherboard – Yodlee, America’s largest financial data broker, says the data it sells it is anonymous. A confidential document obtained by Motherboard shows people could be unmasked in the data. “Yodlee, the largest financial data broker in the U.S., sells data pulled from the bank and credit card transactions of tens of millions of Americans… Continue Reading

LC Webinars on Legal Research – US Case Law and Comparative Law

Via Emily Carr – “The Law Library of Congress will be offering the following webinars in the next three weeks.  Please join us! Orientation to Legal Research Webinar Series: U.S. Case Law, Thursday, February 20, 2020 – The Orientation to Legal Research Series of webinars reflect the content in the in-person series of classes, and… Continue Reading

This map shows which companies have lasted hundreds (and even thousands) of years

Fast Company – “At a time when the average company on the S&P 500 only survives for two decades, it’s surprising to see that there are companies that have existed for centuries around the world. The oldest company still operating today is in Japan. It’s a construction firm called Kongo Gumi that dates to 578… Continue Reading

Open access journals get a boost from librarian much to Elsevier’s dismay

ars technica: “A quiet revolution is sweeping the $20 billion academic publishing market and its main operator Elsevier, partly driven by an unlikely group of rebels: cash-strapped librarians. When Florida State University cancelled its “big deal” contract for all Elsevier’s 2,500 journals last March to save money, the publisher warned it would backfire and cost… Continue Reading