🤖Microsoft's Easy World

Welcome to the Thursday Newsletter, where we cover top industry news stories to keep you in the know.

Good morning. Yesterday marked a significant milestone in Microsoft’s AI journey as they launched their generative AI office assistant, Copilot. It has the ability to summarize conference calls, draft emails, automate workflows, among others. The software will reportedly generate $10B for Microsoft by the year 2026.

They say we’re generally less happy with access to more technology, but if I can actually turn a conference call into an email, I’m all smiles.

_{-Bailey Hepler, Mikael Hall}

IRS

IRS Launching FREE Tax Filing Program 2024

The IRS is developing its own free tax filing system. They are planning to initiate a limited pilot program available to some taxpayers in the 2024 tax filing season. This decision follows a cost and feasibility study mandated by the Inflation Reduction Act, which also provided the IRS with $15 million to fund a task force and conduct the study within nine months.

Roadblock. During the preliminary research phase, an internal prototype, commonly referred to as Direct File, was developed to study taxpayer interaction with the program. Surveys indicated that 72% of taxpayers would be interested in using a free, electronic tax filing service provided by the IRS. However, the cost of running the program is estimated to range between $64 million and $249 million annually, varying significantly based on user eligibility.

Current attempt has seen low usage. Currently, taxpayers with an income of $73,000 or less can file their federal tax returns for free through the Free File Program, which is a collaboration between the IRS and seven private companies. However, this program has consistently seen low usage rates. In the 2020 tax year, only about 4% of eligible taxpayers utilized the Free File program.

ARTIFICIAL INTELLIGENCE

Biden Executive Order Imposes New Rules for AI

The early life of AI has been met with a lot of questions like “how the heck are we to know what is real and fake?” and “what happens when this thing goes self-aware?” Finally, there’s government legislation on artificial intelligence.

President Joe Biden has issued an executive order aimed at mitigating the threats posed by AI. This initiative places the federal government at the forefront of the AI industry, valued at nearly half a trillion dollars. Bruce Reed, White House Deputy Chief of Staff, has described these measures as "the strongest set of actions any government in the world has ever taken on AI safety, security, and trust."

🦺Safety and Security.

• AI companies are required to conduct safety tests on certain products and share the results with the federal government prior to public release. This process, known as "red teaming," is crucial for identifying potential threats to users and the public. If the safety assessment reveals significant concerns, the government has the authority to demand product improvements or halt the initiative altogether.

• These measures are authorized under the Defense Production Act, highlighting the administration's commitment to national security in the realm of AI.

⚖Industry Standards.

• The executive order introduces a comprehensive set of industry standards aimed at creating transparent AI products and safeguarding against harmful outcomes, such as AI-generated biological material or cyberattacks.

• Use of Watermarks: A notable standard is the implementation of watermarks to alert consumers when they are interacting with AI-generated content, potentially mitigating the risks associated with deepfakes and other deceptive content.

🧐Federal Oversight and Advocacy.

• The executive order mandates various federal agencies to adopt practices that serve as a model for the private sector, emphasizing the importance of eliminating racial bias in AI applications and establishing guidelines for investigating AI-related civil rights abuses.

• Departments such as Energy and Homeland Security are tasked with addressing the risks AI poses to critical infrastructure.

AID

Mitch McConnell Stands Firm on Ukraine Aid Amidst Republican Divisions

Even though temperatures across the country drop rapidly, Mitch McConnell isn’t freezing this time. In a recent development that underscores the internal divisions within the Republican Party, Senate Minority Leader Mitch McConnell has voiced his strong support for including aid for Ukraine in the national security supplemental.

Mitch McConnell advocated to provide more aid to Ukraine, emphasizing the urgency of the situation. McConnell highlighted the need for "swift and decisive action" to support both Ukraine and Israel, framing it as a crucial step to deter future adversaries and restore global security.

The Republican Divide. Newly-elected Speaker Mike Johnson is set to advance a bill that exclusively provides aid to Israel, leaving Ukraine aid in limbo. Johnson, representing a different faction within the party, has expressed conditional support for Ukraine aid, emphasizing the need for attaching specific terms to it. This move is indicative of the ongoing debate and differing priorities among the senior members of the Republican Party.

McConnell's Counter-Argument. McConnell dismissed the notion that support for Ukraine detracts from other priorities, labeling it a "false choice." McConnell warned of the dire consequences if Russia were to prevail, including potential threats to NATO and an increased risk of war for the United States. He underscored the importance of standing firm in support of Ukraine to deter future aggression and protect global stability.

WORLD

Fudging Death Tolls: Russia vs. Ukraine

According to Kyiv's military, Russia has lost more than 300,000 soldiers in the 20-month-long war. However, these numbers should be treated with caution as it is challenging to independently verify battlefield reports or casualty counts from either side.

Both Moscow and Kyiv could potentially benefit from inflating the other's reported losses. Frederik Mertens, an analyst with the Hague Centre for Strategic Studies, mentions that a loss of around 300,000 Russian soldiers is believable and corresponds with Western intelligence estimates. However, there have been discrepancies in death tolls reported by Russia and Ukraine, as Russia rarely publicizes its own losses and tends to offer infrequent updates. In one publicization on September 2022, the Kremlin put the death toll for its forces at 5,937; on the same day, Kyiv's count of "liquidated" Russian soldiers was 55,110.

Big Picture.

• The discrepancies in death tolls being reported by both sides raise questions about whether they’re being manipulated for informational warfare. If so, it could have impacts on the morale of troops and support for the war.

• This poses a difficult battle for reporters trying to verify the truth and further investigate what’s actually happening on the ground.

SPORTS

Saudi Arabia's Scores Big on the World Stage in Latest Sportswashing Effort

Sportswashing: the practice of individuals, groups, corporations, or governments using sports to improve reputations tarnished by wrongdoing.

Saudi Arabia has secured the hosting rights for the 2034 World Cup, emerging as the sole remaining contender after Australia withdrew from the bidding process shortly before the deadline. This announcement marks a victory for the Middle Eastern nation, which has been investing substantial sums in sports over recent years.

KPIs:

• Saudi Arabia's substantial financial backing, largely facilitated by the nation's Sovereign Wealth Fund, has enabled the country to host several high-profile sporting events, including a prominent boxing match in Riyadh and an annual Formula One Grand Prix.

• The LIV Golf Tour and the Saudi Pro League have also managed to attract top-tier athletes like Brooks Koepka and Cristiano Ronaldo, further bolstering the country's sports credentials on the global stage.

Zoom-In. Saudi Arabia's hosting of major sporting events has not been without controversy. Human rights organizations have voiced concerns about the country's record on human rights, raising questions about the suitability of hosting such high-profile international competitions.

Zoom-Out. The broader context of Saudi Arabia's ambitions includes its aspiration to become a global investment hub and reduce its dependence on oil revenues. In 2018, Crown Prince Mohammed bin Salman outlined a vision of a new "Europe in the Middle East," highlighting the country's desire to play a more prominent role in the region. Nevertheless, this vision has faced challenges, notably amid regional conflicts like the Israel-Hamas war, which threatens to escalate into a broader regional conflict.

POP-CULTURE

Jordan-Pippen Ring Chasing, Jay-Z’s Honest Proposition

💍Jordan-Pippen ring chasing in 2023. Reminiscent of the 90s a man with the last name of Jordan needs the assistance of a Pippen to secure a ring. Marcus Jordan, son of Chicago Bulls superstar and (arguably) second-best basketball player of all-time Michael Jordan, has been in a romantic relationship with Larsa Pippen (former wife of Scottie Pippen) and wants to continue the family tradition of having the father serve as the best man at the upcoming wedding. The couple revealed details of their relationship and wedding in a recent interview, stating the wedding could be public for all of their fans to watch on TV. The couple was most recently in the news after Michael Jordan revealed he did not approve of the relationship with Larsa Pippen responding by saying MJ’s comments left her feeling traumatized and embarrassed.

💰Jay-Z’s honest proposition. One of the more popular online debates has now been seemingly settled by the man himself, Jay-Z, in a recent interview with Gayle King, says those who chose to eat dinner with him over being handed $500,000 should instead listen to his classic albums for wisdom instead of passing on half-a-million dollars.

The street hustler turned rapper turned businessman said a hypothetical dinner would be a bad deal when his album holds wisdom for $10.99, and he would never tell you to take a bad deal. In addition, Jay spoke about how the lyrics in his music have always captured more of a forward-looking perspective. "It's all there," he said. "Everything that I said was gonna happen happened. Everything that I said I wanted to do, I've done. There's the blueprint. The blueprint literally to me and my life and my journey is there already." With this debate now being laid to rest, those who would have taken the dinner should be ashamed and press play on The Black Album on their way to work tomorrow.

_{-Written by Mikael Hall}

THURSDAY SHORTS

• 📷Photo of the Week: Suitable for this Halloween week is NASA’s reveal of "Bones” of a ghostly cosmic hand. By combining the power of two X-Ray space telescopes, NASA discovered the magnetic fields of this hand-shaped structure in space.