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  "documentTitle": "Intuit Inc. (INTU)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2024-09-20 00:00:00",
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  "notes": "Uses a 'villain' framing by contrasting Intuit's claims of competitive advantage with potential legal risks regarding data usage.",
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      "text": "We note that Internal Revenue Code §6713 imposes a civil penalty on any tax preparer who uses tax return information for “any purpose other than to prepare, or assist in preparing, any such return.”",
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      "text": "Intuit May Have Issues if Data Collected For Tax Returns Was Used For Other Purposes",
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      "text": "We note that Internal Revenue Code §6713 imposes a civil penalty on any tax preparer who uses tax return information for \"any purpose other than to prepare, or assist in preparing, any such return.\"",
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      "text": "Selection of AI content-related lawsuits: The New York Times Co. v. Microsoft Corp., Axel Springer, Other Media Outlets v. Google, The Intercept Media Inc. v. OpenAI Inc., Raw Story Media Inc. v. OpenAI Inc., Basbanes v. Microsoft Corp., Sancton v. OpenAI Inc., Concord Music Group v. Anthropic PBC, Authors Guild v. OpenAI LP, Andersen v. Stability AI Ltd, Tremblay v. OpenAI Inc.",
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      "text": "Publishers want billions, not millions, from AI. OpenAI Inks Licensing Deals to Bring Vox Media, The Atlantic Content to ChatGPT. ChatGPT owner OpenAI strikes deal with news publishers to use content to train its AI. OpenAI partners with European media giants in France and Spain to use content for training.",
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      "text": "Intuit likes to speak about how it has trained its AI on the wealth of customer financial transactions and information resident in its systems. However, Intuit could have problems if it used customer data without their consent. If we simply use the outcome of recent negotiations between AI companies such as OpenAI and media companies as an analog, it seems clear to us that Intuit should be paying its customers for the use of their data to train its models.",
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      "text": "\"And that's why we have an advantage in the sense that we have our own proprietary data. We are building our own large language models... ...the unique competitive differentiation we have in terms of the 60,000 attributes we have on the consumer, the large data set and our own large language model.\" — Intuit CFO Aujla at Goldman Sachs Conference, 9/6/23",
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      "text": "Source: Bloomberg, Variety, Insurance Journal, Euronews, Semafor, Euronews, IRS website, Spruce Point Research",
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      "text": "Intuit CFO Aujla at Goldman Sachs Conference, 9/6/23: \"And that's why we have an advantage in the sense that we have our own proprietary data. We are building our own large language models...\" \"...the unique competitive differentiation we have in terms of the 60,000 attributes we have on the consumer, the large data set and our own large language model.\"",
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      "text": "Will Intuit’s AI Create Legal Exposure Or Necessitate Customer Payments?",
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