by Structured Settlement Watchdog
“AI is kind of a fancy thing — first of all, it's two letters — it means artificial intelligence,” said Vice President Kamala Harris recently during the A.I. Roundtable. “It's about machine learning. And so the machine is taught.” she continued.
A.I. and the GIGO Effect
It was only decades ago, during the "Paleolithic Computer Era", there was a simple but blunt concept called "Garbage In Garbage Out", or in a playfully respectful acronym, a nod to a proclivity of Madame Vice-President Harris (and Muttley from The Wacky Races), "GIGO".
When asked "What is the difference between structured settlements and annuities?" the answer from Bing A.I. featured a a bullet point from Annuity.org at the top that proves my point.
Here is what appeared:
"Structured settlements are awarded to plaintiffs in court cases, while annuities can be purchased by individuals" -Annuity.org
"And so...", as Vice-President Kamala Harris teaches newbies, "the machine is taught" in a classic example of GIGO!
Reasons why Annuity.org is the "Garbage In" on the result to the question to Bing A.I. "What is the
difference between structured settlements and annuities?"
- Structured settlements are not awarded to plaintiffs
- A settlement is not an award, it's a compromise
- A Structured settlement is not an award
- A structured settlement is not an annuity
- A structured settlement is most often funded with an annuity.
- An annuity is a form of qualified funding asset [ see IRC 130(d]
- Structured settlement annuities are typically purchased by a qualified assignment company with funds received from Defendant or Insurer of Defendant
- Structured settlement annuities cannot be purchased by individual plaintiffs
- In rare cases, structured settlement annuities may be purchased by individual defendants (or respondents if claim is not suit) where (1) the individual was/is an uninsured defendant (or a respondent) to a claim; (2) the individual had sufficient financial resources to fund 100% of the premium and the qualified assignment fee. It would be highly doubtful that any properly advised plaintiff lawyer or plaintiff would agree to a structured settlement without a qualified assignment and be exposed as a general creditor of a single individual and what ever may befall them, many years into the future.
Annuity.org is an unreliable source of structured settlement information. It is a needless but constant problem, that a modicum of extra effort on their part would solve, as I have proven time and time again. It's unfortunate that the owners of Annuity.org choose to publish inaccurate information despite it being readily available.
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