The National Artificial Intelligence Initiative Office Launch
On January 12th, 2021, after years of reinforcing artificial intelligence (AI) leadership in America, the White House Office of Science and Technology Policy (OSTP) created the National Artificial Intelligence Initiative Office. AI has been recognized as a key feature of economic growth and security for the future in the United States. The OSTP will lead and manage the AI strategy efforts and will participate in AI research and development of government policy, specifically surrounding privacy, civil rights, and civil liberty.
Along with job and apprentice training in AI and collaboration with international open markets, there is significant emphasis placed on research funding. The government’s budget for 2021 hopes to double funding for AI R&D in hopes of further increasing it in the future as the Nation seeks to establish itself as a competitive leader in AI. R&D projects will include machine learning, improved prediction of extreme weather events, precision agriculture, and synthetic manufacturing, and AI risk assessment frameworks, among others.
Are you developing AI? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.