I was beginning to wonder if Wolters Kluwer Law & Regulatory was planning taking a rest from their aggressive schedule of innovation. Well I was wrong, I just learned that WK is preparing to introduce predictive analytics for federal legislation in their Federal Developments Knowledge Center. The legislative analytics will be powered by artificial intelligence (AI) tools developed in collaboration with Skopos Labs Inc., a software company specializing in predictive analytics.
Since the beginning of 2017 Wolters Kluwer has announced a dizzying variety of enhancements, alliances and products including a Smart tasks for corporate know how, The Federal Legislative Knowledge Center, A new cybersecurity product and alliance with KTMine to offer IP analytics and a partnership with KMStandards to launch an AI workflow tool for M&A clause analytics.
The Federal Developments Knowledge Center was designed by Wolters Kluwer to serve as a comprehensive tool to provide lawyers with deeper insights into proposed legislation and regulation. Features include: smart charts, breaking news, primary source documnts, and impact analysis on executive orders, regulations and legislation.
Predictive AI for Legislation The AI enhancements will enable lawyers to quickly assess proposed legislation, and predict its likelihood of passage in the chamber of the Congress in which it presently resides, as well as its likelihood of ultimate enactment ( passage by both chambers and the signature of the President. )
The analytics, which will be available this fall within Federal Developments Knowledge Center have been developed using natural language processing of the legal text and computational assessment of hundreds of external positive and negative factors that affect a particular bill. The tool also provides background on a bill’s relationship to similar legislation and relevant sections of the Code of Laws of the United States.
Analytics as Differentiator
Analytics offerings are becoming a “must have” enhancement for legal research products. “Analytics competency ” is also becoming a differentiator for lawyers and law firm in the business and practice of law. I look forward to learning more about this innovative new predictive analytics product from Wolters Kluwer and Skopos Labs.