💰 Death, Robots, and Taxes

Should Robots Pay Taxes?

In today’s email:

  • 🔬 Research highlights: Parkison’s…By Word of Mouth

  • 🚨 Industry news: Nǐ AI ma?

  • ⚖️ Policy and regulation: You Are Hired, I Think?

  • 🌐 AI and society: Death and Taxes: Should AI Pay Taxes?

✋ Parkison’s…By Word of Mouth

The earliest indication of Parkinson's disease may be altered speech. Researchers used voice data to spot early signs of Parkinson's disease. The researchers used artificial intelligence (AI) to analyze and evaluate voice signals, where computations are completed and diagnoses are made in seconds instead of hours.

Numerous lives have been impacted by the Parkinson's disease diagnosis. It affects more than 10 million people worldwide. Although there is no cure, the disease can be managed if signs are caught early. Speech changes as Parkinson's disease worsens, along with other symptoms.

Together with colleagues from the Lithuanian University of Health Sciences (LSMU), Rytis Maskelinas, a researcher from Kaunas University of Technology (KTU) in Lithuania, attempted to use voice data to detect early signs of Parkinson's disease.

Professor Virgilijus Ulozas from the Department of Ear, Nose, and Throat at the LSMU Faculty of Medicine claims that patients with early-stage Parkinson's disease may speak in a quieter manner that can also be monotonous, less expressive, slower, and more fragmented and that this is very difficult to notice by ear. Hoarseness, stuttering, mangled word pronunciation, and absence of pauses between words might become more noticeable as the illness worsens. Thus, this early disease detection system has been created by the collaborative team of Lithuanian experts, taking into account these symptoms.

👲 Industry news: Nǐ AI ma?

Beijing’s AI program “is not constrained by the rule of law”. Christopher Wray, director of the FBI, has issued a warning regarding the harm Beijing's AI program poses to national security. According to Wray, who revealed this during a panel discussion at the World Economic Forum, Beijing has a more significant cyber operation than any other nation. Beijing will further use machine learning to advance the capabilities of its state-sponsored hackers' capabilities.

Beijing is frequently charged with influencing other nations with its infrastructure spending. China's growing economic clout and military strength are mainly seen in Washington as the most substantial long-term security threat to the United States.

According to Wray, Beijing's artificial intelligence program is predicated on top of the vast caches of intellectual property and sensitive data they've taken over the years.

It will also be used "to further that same intellectual property theft, to advance the repression that occurs not only back home in mainland China but increasingly as a product they sell around the world," according to the statement.

Similar to nuclear knowledge, AI can be utilized for good or ill in the globe.

Christopher Wray, director of the FBI, has issued a warning regarding the harm Beijing's AI program poses to national security. According to Wray, who revealed this during a panel discussion at the World Economic Forum, Beijing has a more extraordinary cyber operation than any other nation. Beijing will further use machine learning to advance the capabilities of its state-sponsored hackers' capabilities.

Beijing is frequently charged with influencing other nations with its infrastructure spending. China's growing economic clout and military strength are mainly seen in Washington as the most significant long-term security threat to the United States.

Wray believes that Beijing's artificial intelligence program is predicated on top of the vast caches of intellectual property and sensitive data they've taken over the years.

It will also be used "to further that same intellectual property theft, to advance the repression that occurs not only back home in mainland China but increasingly as a product they sell around the world," according to the statement.

Similar to nuclear knowledge, AI can be utilized for good or ill around the globe.

🤷 You Are Hired, I Think?

The New York City Council passed the Automated Job Decision Tool Law in November 2021, joining the legislation limiting the use of AI in employment decisions in Illinois and Maryland (AEDT). The New York City Department of Consumer and Worker Protection ("NY-DCWP") announced on December 12, 2022, that its enforcement of AEDT would be delayed to April 15, 2023. AEDT was initially planned to go into effect on January 1, 2023. Still, due to significant public feedback on the proposed implementing rules and the need for a second public hearing, the NY-DCWP decided to delay this date in the response.

💰 Should AI Pay Taxes?

What if an AI becomes immortal? What if robots were subject to a tax in the US? Based on a study, a robot tax, even a small one, might aid in the fight against the negative impacts of automation on economic inequality in the United States. Economists believe that a minor tax on trade in general and robotics will assist in lessening income inequality in the United States.

Policy experts, academics, and Bill Gates have all openly debated the idea (who favors the notion). According to the theory, since robots have the potential to replace employment, a high tax on them would encourage businesses to support employee retention while also making up for a reduction in payroll taxes when robots are utilized. South Korea has lowered incentives for businesses to use robots; in contrast, European Union policymakers contemplated a robot tax but decided against enacting it.

The best course of action in this case, pursuant to research by MIT economists who examined the available data, would actually include a small tax on robots. The same holds true for trade taxes, which the study concludes would also result in fewer American jobs.

In particular, the analysis concludes that, given current U.S. income taxes, trade taxes should be between 0.03 percent and 0.11 percent and a tax on robots should be between 1 percent and 3.7 percent of their value.

The article "Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation" is currently available in advance online form in The Review of Economic Studies.

🔥 TRENDING TOOLS 🔥

  • 🧠 Copy.ai - Brainstorm topics, help with creative prompts, and keyword generator

  • ✍️ Grammarly - Help correct grammar and writing mistakes

  • 📋 HypotenuseAI - Let AI write your content

  • ✂️ Upword.ai - Summarize long-form content to make it more understable to you