The world is increasingly turning to digital for almost all needs. Day by day people are learning more about technology and are getting used to it. Governments around the world have turned to digital means too. They are using digital means to submit and pay taxes as well as to collect a variety of revenue from different sources. AI and machine learning are linked to any intellectual task. AI has been developed to guideways and is a part of modern technology.
The Bureau of the Fiscal Service is one of the lesser-known agencies in the US Federal Government. Currently, the BFS is planning to use AI. They have already invested a lot behind it. The Government will discuss about the upcoming AI in a presentation, which is to be held on 18th November, 2021.
Justin Marisco, Chief Data Officer of the Bureau of the Fiscal Service will share some of the ways in which AI is providing insights into government spending and revenues and how the bureau is investing in the use of AI. He told Forbes that they are using AI to innovate complex financial data for the public. They are also beginning to experiment with AI for fraud detection and to improve the search function on their public facing websites.
He also said that they are looking forward to developments of synthetic data that could help them in improving the availability of public data. They are always paying attention to trends in data engineering systems including the data mesh architectures and the use of machine learning to help standardize data attributes, to support AI.
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