The IRS risk chief has raised an alarm about artificial intelligence to regulators. Two years ago, AI was mainly used for research, writing, and making information more accessible. Capabilities have since expanded significantly: coding, building sophisticated apps and systems in minutes, automating business processes, and generating studio-grade images and videos. Today, AI systems are already processing millions of payments. Regulators, however, have not evolved at a fraction of the pace needed to keep up with these developments.
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