The US Internal Revenue Service has deployed artificial intelligence to audit wealthy taxpayers

The US Internal Revenue Service (IRS) is beginning to use artificial intelligence tools to identify potential tax violations.

Here's What We Know

According to the IRS, the algorithms will pay close attention to wealthy taxpayers using "sophisticated tax evasion schemes". The AI will analyse data from people with incomes of $1m or more, and with total assets over $250k.

According to the press release, the introduction of AI will allow the IRS to better detect fraud, monitor emerging threats and improve tools for screening suspicious cases.

The technology will be used to investigate 75 of the largest US partnerships with assets averaging $10bn, focusing on hedge funds, investment and law firms. According to the IRS, about 1,600 taxpayers owe hundreds of millions of dollars in taxes.

The agency stressed that the introduction of AI will not affect Americans with low incomes.

Source: Gizmodo