Tag Archive for artificial intelligence

Texas Leads Coordinated States Action To Stop Artificial Intelligence Investment Scam. The AI Was “Purportedly” Endorsed By Elon Musk And Comparable To CHATGPT

exas Leads Coordinated States Action To Stop Artificial Intelligence Investment Scam. The AI Was "Purportedly" Endorsed By Elon Musk And Comparable To CHATGPT

Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order to stop an investment scheme purportedly powered by artificial intelligence and endorsed by Elon Musk. The Texas State Securities Board led a group of regulators that include the Alabama Securities Commission, the Montana State Auditor, the Kentucky Department of Financial Institutions, and the New Jersey Securities Bureau in bringing coordinated actions against Horatiu Charlie Caragaceanu and his organizations, The Shark of Wall Street and Hedge4.ai.

Caragaceanu is allegedly describing The Shark of Wall Street and Hedge4.ai as “artificial intelligence labs” that act through “machine learning programmers and ethical hackers.” According to the order, they are promoting TruthGPT Coin, a cryptocurrency that purportedly uses an artificial intelligence model called Elon Musk AI. This artificial intelligence model is purportedly able to analyze various cryptocurrencies, predict future digital asset prices and differentiate profitable investments from scams. The respondents are also touting the profitability of TruthGPT Coin – even claiming that TruthGPT Coin will increase in value by as much as 10,000 times.

According to the order, investors are also being told Elon Musk endorses TruthGPT Coin, and animated avatars and images of Elon Musk are being used to demonstrate his endorsement. Promotional media shows the purported involvement of various other public figures. For example, the website for TruthGPT Coin (truthgptc.com) is allegedly designed to create the appearance that Changpeng “CZ” Zhao, the founder and CEO of Binance, and Vitalik Buterin, the founder of Ethereum, are part of the ecosystem. The website even purports to incorporate a communications platform that permits users to interact with these and other public figures.
Read More

Written by | Posted in Texas Security Board

If Robots Replace People, Should They Be Paying Taxes?

William Rogers

The capability of artificial intelligence has reached a point that it is no longer a question of if robots will replace people, but a matter of when. Highly automated factory floors, driverless cars, and computerized medical diagnoses all exist today. In the not too distant future it is plausible that a large percentage of highly skilled jobs will be performed by robots. In the fields of engineering, finance, and scientific research computers have already surpassed the ability to process data in a far superior manner than the brightest humans on the planet.

Read More

Written by | Posted in Tax Policy