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☕️ X is suing California

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This is your daily dose of ☕️ Techpresso, where you get the latest tech news of the day effortlessly.

Here's the latest tech news from the last 24 hours:

👨‍⚖️ X is suing California
💰 IRS employs AI to target the ultra-wealthy
🌍 Microsoft plans to capture carbon using crushed limestone
🤖 Bots on X worse than ever according to analysis of 1m tweets
🩺 Meta's VR technology is helping to train surgeons and treat patients
🦾 AI study says sometimes it's good when executives act like robots

👨‍⚖️ X is suing CaliforniaLINK

  • Elon Musk's X Corp, formerly known as Twitter, is suing the state of California over a new content moderation law, claiming it infringes on freedom of speech.
  • The law, Assembly Bill 587, requires social media companies to disclose how they're combating hate speech, harassment and extremism, and to report their enforcement data twice a year.
  • X Corp argues that the law will pressure platforms to remove content that is constitutionally protected, even if viewed as problematic by the state.
  • 💰 IRS employs AI to target the ultra-wealthyLINK

  • The Internal Revenue Service (IRS) is employing artificial intelligence tools to target potential tax violations, focusing on wealthy taxpayers involved in complex tax avoidance schemes.
  • AI will change the way the IRS issues audits, primarily targeting high-income individuals and ensuring audit rates for those earning less than $400,000 per year do not increase.
  • The IRS hired nearly 90,000 additional staff members to support its tax evasion detection efforts and enhance taxpayer services, making this the largest increase in personnel in over a decade.
  • 🌍 Microsoft plans to capture carbon using crushed limestoneLINK

  • Microsoft has partnered with Heirloom Carbon, a company that has devised a method of using limestone to capture and reduce carbon, contributing to Microsoft's goal of becoming carbon-negative.
  • Despite the proven effectiveness of the limestone method, the cost-efficient scale is yet to be determined and the challenge of storing the captured carbon remains.
  • Microsoft has already employed various carbon capture technologies and aims to become carbon-negative by 2030, eventually hoping to remove all of the carbon it has emitted since its foundation in 1975 by 2050.
  • 🤖 Bots on X worse than ever according to analysis of 1m tweetsLINK

  • Despite Elon Musk's claims of cracking down on bots after his acquisition of Twitter (now X), researchers found that bot activity has actually increased.
  • Researchers identified over 1,200 X accounts making false election claims and a bot network of 1,305 accounts during their analysis of recent political events.
  • The methods used by X to moderate misinformation, disinformation and bot activity have been deemed ineffective by researchers, while several of the identified accounts remain active on the platform.
  • 🩺 Meta's VR technology is helping to train surgeons and treat patientsLINK

  • Dr. Jake Shine used a virtual reality (VR) headset to practice a major shoulder-replacement surgery, suggesting that VR could potentially improve outcomes and efficiency in the medical field.
  • VR technology is also being used for pain management, emotional therapy and physical and cognitive rehabilitation, showing its versatility in healthcare applications.
  • Regulatory considerations and the cost-effectiveness of VR in healthcare are still open questions, posing potential hurdles for the broad adoption of VR in the medical industry.
  • 🦾 AI study says sometimes it's good when executives act like robotsLINK

  • Researchers at Northeastern University's D'Amore-McKim School of Business trained AI chatbot, ChatGPT, on corporate earnings call speeches and found its responses sometimes matched those of human executives.
  • When executives provided less robotic and more detailed responses during earnings calls, it led to more significant impacts on the company's stock prices.
  • Bloomberg columnist suggests that when earnings are poor, corporations should consider using ChatGPT for their calls, while human executives should handle calls when having positive news to share.
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    Arm Holdings' IPO is oversubscribed, with demand six times higher than the $5 billion sought, indicating likelihood of meeting their $47-$51 share target range.LINK

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