
AI in Tax Prep: Revolution or Risk? IRS, TurboTax, H&R Block Navigate New Terrain
AI is revolutionizing tax preparation, offering efficiency and accuracy. Yet, it faces challenges like bias and reliability concerns.
BALTIMORE, MD, April 1, 2025 – Can we really trust AI to make better decisions than humans? A new study says … not always. Researchers have discovered that OpenAI’s ChatGPT, one of the most advanced and popular AI models, makes the same kinds of decision-making mistakes as humans in some situations – showing biases like overconfidence of hot-hand (gambler’s) fallacy – yet acting inhuman in others (e.g., not suffering from base-rate neglect or sunk cost fallacies).
You are swimming in an ocean of data and don’t even realize it. All around you are invisible amounts of data that would be staggering to try to comprehend. Thousands of smartphones and smart devices are talking to, sending and downloading vast amounts of data, video, audio, words, numbers, images, you name it. Everything from the latest movie on Netflix to someone’s radiology results from a cancer screening.
Mom-and-pop businesses are trying to adapt to the soaring cost of eggs. The owners of four egg-centric restaurants across the country show how they are coping with this threat to their livelihoods.
An audio journey of how data and analytics save lives, save money and solve problems.
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AI is revolutionizing tax preparation, offering efficiency and accuracy. Yet, it faces challenges like bias and reliability concerns.
Generative artificial intelligence – the use of computers to generate words, images, voice and videos indistinguishable from human-created content – is transforming every industry. Technology advances and new use cases appear daily with no slowdown in sight as gen AI is estimated to add $30 trillion annually to the world economy by 2030. Much of the impact is positive, including the ability to quickly synthesize massive quantities of data and text, freeing humans to spend their time on more creative tasks where we still excel. But there are also serious risks that must be mitigated.
Maryland mayor Brandon Scott (pictured below yesterday) said that the recovery operation to find the six missing workers in the Patapsco River was 'even more' dangerous today due to the weather.
The collapse of the Francis Scott Key Bridge in Baltimore on Tuesday cut off access to much of the city’s port — causing a suspension of vessel traffic that will disrupt a key trade lane and threaten to further tangle already-stressed supply chains.
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Access OR/MS Today MagazineAnalytics magazine showcases articles and research reports based on big data, AI, machine learning, data analytics and other new-age technologies.
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