Happy Tax Day from your friendly neighborhood chatbot
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 15 April 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Today is Tax Day. While payers in 12 states have the opportunity to use a pilot IRS system to directly file their taxes online, tax software companies like Intuit and H&R Block have introduced generative artificial intelligence assistants to be more competitive. But do they work? Then, Samsung beats out Apple for title of the world’s biggest smartphone maker, and we examine how residents of “news deserts” access their local news.
Transcript
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| 0:00.0 | Not to be that guy, but it is Tax Day. |
| 0:05.0 | I'm David Brancaccio. It's April 15th. |
| 0:07.0 | File your tax return or do the extension. |
| 0:10.0 | In 12 states, people can use a pilot IRS direct file system to directly file their |
| 0:15.2 | taxes online going around sometimes pricier private systems. For now the IRS |
| 0:20.1 | arrangement is for basic tax returns like W-2 income with the standard deduction but the |
| 0:25.8 | intuit's and H&R blocks of the world are offering jazzier systems driven by |
| 0:30.5 | new forms of artificial intelligence. |
| 0:32.5 | Marketplace's Megan McCarty Karino has that. |
| 0:35.6 | Late last year, Intuit and H&R Block introduced dueling AI assistance. |
| 0:41.4 | Mostly, you know, kind of support self-service intelligence rather than click a button and |
| 0:48.3 | fill your taxes out for you. |
| 0:50.4 | Analysts Alex Zucin at Wolf Research says both AI tools are built on large language models like |
| 0:56.0 | chat gPT but trained on tax sources. |
| 0:59.6 | Into its assistant acts as more of a guide, creating checklists or scanning for missing information, |
| 1:05.6 | while H&R blocks is more of a customer support chatbot. |
| 1:09.4 | But since the technology is new, we cannot fully rely on that. |
| 1:14.5 | Subod Kumar heads the Center for Business Analytics and Disruptive Technologies |
| 1:19.2 | at Temple University, which has tested the tools. |
| 1:22.0 | He found they sometimes provided irrelevant |
| 1:24.2 | information and couldn't answer complex questions. Both platforms will |
| 1:29.0 | connect users with a human to assist when needed and the companies offer accuracy guarantees. |
... |
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