With all of the advancements with Artificial Intelligence, I am curious as to why government spending is not currently being monitored by AI? I believe this would reduce the cost of oversight, while improving the ability to detect irregular transactions.
It could be incorporated into budgets, helping to enforce proper bidding, and comparing cost with those of regular business transactions, helping to reduce the amount that governments are defrauded, or transactions aimed to benefit ‘friends of government’ – or organized crime. This works to ensure that payments allocated for services to be rendered are not inflated to be above regular business – reducing costs to public services, and making instances where ‘favors’ are performed more obvious and exposed.
It could further then be used to compare the differences between amounts budgeted and payments, requiring analysis to be performed when a difference existed that was above a prescribed tolerance.
AI would be indifferent and unbiased, and would only advise of irregular transactions, thus would not require investigation to discover bias.
With such obvious benefits, I question why this is not already used?
This was posted on the “Economist of the World” LinkedIn group, and has generated some comments – click here to view them all!