LegalSeptember 05, 2018

Wolters Kluwer brings near real-time legislative alerts and SIC industry impact tool to federal developments knowledge center

The solution's new capabilities, combined with AI-enabled predictive analytics, provide legal professionals with superior foresight.

Wolters Kluwer Legal & Regulatory U.S. today announced the introduction of near real-time and daily legislative alerts to its highly regarded Federal Developments Knowledge Center, providing lawyers with a powerful, AI-enabled solution that allows them to know tomorrow's laws today.

Federal Developments Knowledge Center keeps legal professionals current on the latest legislation and regulations, and now provides consolidated alerts for legislation as well as agency rules and presidential actions. Developed with Skopos Labs Inc., the Federal Developments Knowledge Center delivers proven AI-driven predictive analytics with clear and transparent graphics so attorneys can know which bills are more likely to become law. When attorneys need to know the impact of pending legislation on their clients, the new SIC Industry Impact Tool, powered by Skopos Labs Inc., analyzes bills to determine which industries are most likely affected, positively or negatively, by a specific bill.

"With more than 17,000 bills introduced since President Trump took office, keeping pace with legislation is immensely time-consuming for lawyers. The Federal Developments Knowledge Center's new alerts capability changes that," said Chelise Anderson, Esq., Wolters Kluwer's Legal Markets Group Product Manager. "With customizable near real-time alerts for pending legislation, attorneys will stay informed of the latest federal developments.

The near real-time and daily alerts are consolidated for legislation, rules and presidential actions. Legal professionals can customize alerts by filtering:

  • Legislative alerting by status (e.g. Introduced, Passed by House, etc.) or policy area;
  • Rules alerting by agency or sub-agency and pending or final rules;
  • Presidential actions by type and source; and
  • Boolean enabled keyword search.

“The Industry Impact tool represents the true power of AI applied to corporate and legal documents, and is the result of years of research and development,” said John Nay, Ph.D., Skopos Labs’ Founder & CEO. “Skopos AI is able to digest all pending bills, compare the proposed policies to the current companies within an industry, and determine which industries would be most impacted by legislative developments, all in near real-time. This allows lawyers to find hidden connections between Congress and industry, and to stay ahead of the curve on potential corporate impacts.”

In addition to alerts and predictive analytics capabilities, key features and benefits of the Federal Developments Knowledge Center include:

  • Key Developments SmartChart with alerts organized by practice area.
  • Summary and supporting analytics for bills that included similar bills from the 115th Congress as well as previous congressional sessions.
  • SIC codes tied to pending legislation to highlight which industries are likely to be most impacted
  • Unbiased legal editorial commentary, which distills key dates, synopsis and impact, next steps, and legal implications.
  • Near-real-time updates of all newly issued legislation by policy area and bill status, presidential actions, proposed and final rules.
  • Breaking news with rich analysis written by Wolters Kluwer’s expert attorney editors.
  • Quick access to relevant source documents from Congress, the White House, and the Federal Register.
  • Impact analysis on executive orders, presidential memoranda, proclamations, proposed legislation and enacted laws and proposed and final rules.
About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.