{ "schema": "5lc-selection-review/1", "sublayer": "vertical-ai", "asOf": "2026-10-21", "status": "reviewed_representative_set_with_material_scope_sensitivity", "scope": "Commercial professional and industry AI applications, including predictive models, computer vision, generative tools and specialized knowledge workflows. Advertising is assessed in Consumer, search and ads; horizontal assistants and general-purpose models are separate.", "universeEstablishedBeforeSelection": [ "vertical-ai-universe.json", "vertical-ai-universe-amendment-2026-10-21.json" ], "predefinedFunctions": [ { "id": "legal-content", "description": "Legal research and authoritative professional content", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "legal-work", "description": "Legal document and matter workflows", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "clinical-knowledge", "description": "Clinical knowledge and decision support", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "clinical-operations", "description": "Clinical documentation and medical operations", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "financial-intelligence", "description": "Financial research and intelligence", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "housing", "description": "Housing operations", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "industrial-public", "description": "Industrial and public-sector operational applications", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "financial-decisions", "description": "Lending, fraud and operational financial decisions", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "insurance-claims", "description": "Insurance claims and repair workflows", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "construction", "description": "Construction project workflows", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" }, { "id": "life-sciences", "description": "Life-sciences commercial and regulated workflows", "minimumRepresentatives": 0, "minimumType": "No mandatory sector or function slots; coverage is descriptive" } ], "universe": { "reconciledCandidates": [ { "entityId": "wolters-kluwer", "name": "Wolters Kluwer", "economicParent": "wolters-kluwer", "eligible": true, "functions": [ "legal-content", "clinical-knowledge" ], "sourceIds": [ "wolters-kluwer:wk-h126-primary", "wolters-kluwer:wk-fy25-primary" ], "roleEvidence": "UpToDate Expert AI and professional workflow applications are commercial; group revenue spans several industries.", "observations": [ { "measure": "US UpToDate Enterprise Edition customers signed up for Expert AI", "value": ">90%", "unit": "customer share", "period": "July 31, 2026", "evidence": "company_stated", "limitations": "Approximately 2,500 hospitals represented; signup is not active use." }, { "measure": "FY group revenue", "value": 6125, "unit": "EUR million", "period": "2025", "evidence": "filing", "limitations": "Not AI-only revenue." } ], "selected": true, "rank": null, "decision": "Retained for established clinical knowledge distribution and professional-content applications. Hospital signup is not promoted to active clinician usage.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "thomson-reuters", "name": "Thomson Reuters", "economicParent": "thomson-reuters", "eligible": true, "functions": [ "legal-content", "legal-work" ], "sourceIds": [ "thomson-reuters:tr-fy2025", "thomson-reuters:tr-cocounsel-1m", "thomson-reuters:tr-oct14-global" ], "roleEvidence": "CoCounsel and legal research connect proprietary professional content to commercial legal workflows.", "observations": [ { "measure": "CoCounsel professionals", "value": 1000000, "unit": "professionals", "period": "February 2026", "evidence": "company_stated", "limitations": "Not defined as current paying or daily active users." }, { "measure": "Legal Professionals revenue", "value": 2868, "unit": "USD million", "period": "2025", "evidence": "filing", "limitations": "Whole segment, not CoCounsel revenue." } ], "selected": true, "rank": null, "decision": "Retained for legal-content distribution and documented CoCounsel use. The reported population is not treated as standardized paying seats.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "relx", "name": "RELX", "economicParent": "relx", "eligible": true, "functions": [ "legal-content", "legal-work", "financial-intelligence" ], "sourceIds": [ "relx:relx-fy2025", "relx:relx-h1-2026", "relx:relx-lie", "relx:relx-doctrine" ], "roleEvidence": "LexisNexis legal products and the Risk business combine specialist datasets with analytical applications.", "observations": [ { "measure": "Legal revenue", "value": 1806, "unit": "GBP million", "period": "2025", "evidence": "filing", "limitations": "Not generative-AI-only revenue." }, { "measure": "Doctrine daily professional users", "value": 27000, "unit": "professionals", "period": "September 2026", "evidence": "company_stated", "limitations": "Acquired business subset; not the whole RELX customer base." } ], "selected": false, "rank": null, "decision": "Remains a major eligible content/risk supplier. A third incumbent legal-content slot is reallocated to operational finance and insurance in this revision; exclusion is not a finding that RELX is smaller or less important overall.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "tempus", "name": "Tempus AI", "economicParent": "tempus", "eligible": true, "functions": [ "clinical-knowledge", "clinical-operations" ], "sourceIds": [ "tempus:tem-q226-primary", "tempus:tem-ecgmr-primary", "tempus:tem-recursion-extension" ], "roleEvidence": "Molecular diagnostics, licensed clinical data and clinical algorithms form an operating clinical/data business.", "observations": [ { "measure": "Data and Applications revenue", "value": 93.2, "unit": "USD million", "period": "Q2 2026", "evidence": "company_stated", "limitations": "Includes data licensing; not software-only or AI-only revenue." }, { "measure": "Diagnostics revenue", "value": 289.3, "unit": "USD million", "period": "Q2 2026", "evidence": "company_stated", "limitations": "Laboratory testing is not AI software revenue." } ], "selected": false, "rank": null, "decision": "Remains eligible, with meaningful data, diagnostic and algorithm activity. Its slot is reallocated to broaden industry representation; laboratory and data revenue do not provide a software-only comparison.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "doximity", "name": "Doximity", "economicParent": "doximity", "eligible": true, "functions": [ "clinical-knowledge", "clinical-operations" ], "sourceIds": [ "doximity:docs-fy26-primary", "doximity:docs-150", "doximity:docs-q127-primary", "doximity:docs-novant" ], "roleEvidence": "Commercial clinical AI suite, communication and professional-network workflows.", "observations": [ { "measure": "Clinical AI Suite purchasers", "value": 150, "unit": "health systems", "period": "June 18, 2026", "evidence": "company_stated", "limitations": "Institutional purchasers, not daily active systems." }, { "measure": "Workflow prescribers", "value": ">800000", "unit": "prescribers", "period": "Q4 FY2026", "evidence": "company_stated", "limitations": "Nearly half used clinical AI; whole workflow denominator is broader." } ], "selected": false, "rank": null, "decision": "Strong cutoff alternative. Abridge adds ambient-documentation depth and OpenEvidence adds medical-search activity; selecting both leaves Doximity outside the ten-slot display, not outside eligibility.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "alphasense", "name": "AlphaSense", "economicParent": "alphasense", "eligible": true, "functions": [ "financial-intelligence" ], "sourceIds": [ "alphasense:as-oct-banking", "alphasense:as-raise", "alphasense:as-workproducts" ], "roleEvidence": "Commercial financial and corporate research platform with current named customers and workflow products.", "observations": [ { "measure": "Enterprise customers", "value": 8000, "unit": "organizations", "period": "October 6, 2026", "evidence": "company_stated", "limitations": "Organization size and active-use window vary." }, { "measure": "Annual recurring revenue", "value": ">600", "unit": "USD million", "period": "Q1 2026", "evidence": "company_stated", "limitations": "Contracted recurring measure, not recognized revenue." } ], "selected": true, "rank": null, "decision": "Retained for financial and corporate intelligence, distinct from operational credit/fraud decisioning. Private financial disclosure is not required for eligibility.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "clio", "name": "Clio", "economicParent": "clio", "eligible": true, "functions": [ "legal-content", "legal-work" ], "sourceIds": [ "clio:pr-500m", "clio:clio-gpt56", "clio:clio-baker", "clio:clio-learned-primary" ], "roleEvidence": "Operating legal practice, research and judicial software; completed vLex and Learned Hand acquisitions are consolidated.", "observations": [ { "measure": "Group ARR", "value": ">500", "unit": "USD million", "period": "May 2026", "evidence": "company_stated", "limitations": "Practice management, payments and research included; AI portion unknown." } ], "selected": false, "rank": null, "decision": "Strong alternative to Harvey or an incumbent content group. Exclusion reflects limited legal slots, not a finding of lower AI revenue or inferior products.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "c3ai", "name": "C3 AI", "economicParent": "c3ai", "eligible": true, "functions": [ "industrial-public" ], "sourceIds": [ "c3ai:c3-fy26", "c3ai:c3-q1fy27", "c3ai:c3-shell" ], "roleEvidence": "Commercial industrial applications; Shell describes an operating equipment-reliability program.", "observations": [ { "measure": "Shell equipment monitored", "value": ">13000", "unit": "pieces of equipment", "period": "June 2026", "evidence": "company_stated", "limitations": "One customer program, not standardized paid seats." }, { "measure": "FY revenue", "value": 250.3, "unit": "USD million", "period": "Year ended April 30, 2026", "evidence": "filing", "limitations": "Group revenue spans services and subscriptions." } ], "selected": false, "rank": null, "decision": "Eligible industrial alternative. Palantir is selected for broader documented industrial and government deployments; equipment counts are not compared numerically with customer counts.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "eliseai", "name": "EliseAI", "economicParent": "eliseai", "eligible": true, "functions": [ "housing", "clinical-operations" ], "sourceIds": [ "eliseai:el-funding-post", "eliseai:el-door", "eliseai:el-drphillips" ], "roleEvidence": "Operating leasing, maintenance and resident communications; a smaller healthcare workflow business is separately evidenced.", "observations": [ { "measure": "Apartment units covered", "value": 6500000, "unit": "multifamily units", "period": "September 2026", "evidence": "company_stated", "limitations": "Coverage does not mean every unit produces monthly AI interactions." }, { "measure": "ARR", "value": ">200", "unit": "USD million", "period": "September 2026", "evidence": "company_stated", "limitations": "Recognized revenue and profit not disclosed." } ], "selected": true, "rank": null, "decision": "Retained as a substantial dedicated property-workflow application with disclosed 6.5 million covered units and more than USD 200 million ARR. AppFolio, Yardi and MRI make this an editorial choice, not a compulsory housing slot or proof of larger activity.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "harvey", "name": "Harvey", "economicParent": "harvey", "eligible": true, "functions": [ "legal-work" ], "sourceIds": [ "harvey:h-company", "harvey:h-platform", "harvey:h-hogan-oct", "harvey:h-tcenergy" ], "roleEvidence": "Commercial legal workflows used by named law firms and corporate legal teams.", "observations": [ { "measure": "Customers", "value": ">3500", "unit": "organizations", "period": "October 2026 snapshot", "evidence": "company_stated", "limitations": "Mixed firms and departments; not a standardized enterprise denominator." }, { "measure": "Lawyers using platform", "value": ">200000", "unit": "lawyers", "period": "October 2026 snapshot", "evidence": "company_stated", "limitations": "Active-use window not disclosed." } ], "selected": true, "rank": null, "decision": "Retained for dedicated legal-workflow adoption by named firms and departments. Clio and Legora are credible substitutes; incompatible population definitions do not establish precise ordering.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "legora", "name": "Legora", "economicParent": "legora", "eligible": true, "functions": [ "legal-work" ], "sourceIds": [ "legora-news" ], "roleEvidence": "Current commercial legal platform with named large-firm deployments.", "observations": [ { "measure": "Legal professionals", "value": 130000, "unit": "professionals", "period": "October 2026 snapshot", "evidence": "company_stated", "limitations": "Not necessarily active or paid users." }, { "measure": "Law firms and in-house teams", "value": 2100, "unit": "teams", "period": "October 2026 snapshot", "evidence": "company_stated", "limitations": "Teams are not standardized enterprises; earlier pages use different dates/counts." } ], "selected": false, "rank": null, "decision": "Strong legal-AI cutoff alternative; no claim of precise ordering below Harvey.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "openevidence", "name": "OpenEvidence", "economicParent": "openevidence", "eligible": true, "functions": [ "clinical-knowledge", "clinical-operations" ], "sourceIds": [ "openevidence:oe-cedars", "openevidence:oe-million", "openevidence:oe-coding" ], "roleEvidence": "Customer-confirmed clinical-evidence deployment and documented individual-physician use.", "observations": [ { "measure": "Consultations", "value": 1000000, "unit": "interactions", "period": "March 10, 2026, one day", "evidence": "company_stated", "limitations": "Not one million physicians, recurring revenue or an average day." } ], "selected": true, "rank": null, "decision": "Retained for high observed clinical-search activity and a customer-confirmed institutional deployment. One day of consultations is not annual revenue or clinical efficacy.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "abridge", "name": "Abridge", "economicParent": "abridge", "eligible": true, "functions": [ "clinical-knowledge", "clinical-operations" ], "sourceIds": [ "abridge:ab-assistant-release", "abridge:ab-geisinger", "abridge:ab-nursing" ], "roleEvidence": "Production ambient documentation, nursing workflows and clinical assistance.", "observations": [ { "measure": "Enterprise health systems", "value": ">300", "unit": "systems", "period": "October 2026", "evidence": "company_stated", "limitations": "Systems are not equivalent to individual hospitals, paid seats or daily activity." } ], "selected": true, "rank": null, "decision": "Retained for delivered ambient documentation and health-system integration. Epic, Doximity and other ambient providers remain credible alternatives.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "ambience-healthcare", "name": "Ambience Healthcare", "economicParent": "ambience-healthcare", "eligible": true, "functions": [ "clinical-operations" ], "sourceIds": [ "ambience-outcomes" ], "roleEvidence": "Commercial clinical documentation and revenue-cycle applications.", "observations": [ { "measure": "Cleveland Clinic onboarding", "value": 4000, "unit": "clinicians", "period": "Four-month rollout reported August 2026", "evidence": "company_stated", "limitations": "One system, not aggregate platform adoption." } ], "selected": false, "rank": null, "decision": "Credible ambient-documentation alternative. Lack of an aggregate count is uncertainty, not a zero score.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "nabla", "name": "Nabla", "economicParent": "nabla", "eligible": true, "functions": [ "clinical-operations" ], "sourceIds": [ "nabla-home" ], "roleEvidence": "Commercial ambient documentation and coding support.", "observations": [ { "measure": "Organizations", "value": ">130", "unit": "organizations", "period": "October 2026 snapshot", "evidence": "company_stated", "limitations": "Organization definition may differ from Abridge health systems." }, { "measure": "Clinicians", "value": 85000, "unit": "clinicians", "period": "October 2026 snapshot", "evidence": "company_stated", "limitations": "Active-use window not specified." } ], "selected": false, "rank": null, "decision": "Credible ambient alternative; counts are not converted to market share.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "epic", "name": "Epic", "economicParent": "epic", "eligible": true, "functions": [ "clinical-knowledge", "clinical-operations" ], "sourceIds": [ "epic-ai" ], "roleEvidence": "Native electronic-record AI products are already deployed; integration distribution is material.", "observations": [ { "measure": "Customers using Epic AI", "value": "85%", "unit": "customer share", "period": "March 2026", "evidence": "company_stated", "limitations": "Broad AI definition; not ambient-product penetration." } ], "selected": false, "rank": null, "decision": "Major platform alternative. Abridge/OpenEvidence are chosen to show dedicated application suppliers; this is an editorial distinction and not evidence that Epic is smaller or less important.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "veeva", "name": "Veeva", "economicParent": "veeva", "eligible": true, "functions": [ "life-sciences" ], "sourceIds": [ "veeva-q227" ], "roleEvidence": "Commercial life-sciences workflow platform; a top-20 biopharma deployed Agentic Call Report across its US field team.", "observations": [ { "measure": "Vault CRM customers live", "value": 180, "unit": "customers", "period": "July 2026", "evidence": "company_stated", "limitations": "Whole CRM, not all AI users." }, { "measure": "Quarterly group revenue", "value": 928, "unit": "USD million", "period": "Quarter ended July 31, 2026", "evidence": "company_stated", "limitations": "Not AI-only revenue." } ], "selected": false, "rank": null, "decision": "Major life-sciences alternative under a broader industry policy. Current scope does not justify ranking it below selected clinical providers.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "fico", "name": "FICO", "economicParent": "fico", "eligible": true, "functions": [ "financial-decisions" ], "sourceIds": [ "fico:fico-q326", "fico:fico-about", "fico:fico-tmobile" ], "roleEvidence": "Commercial predictive scoring, fraud analytics and decision software with a documented large operating footprint. Predictive models are within scope; generative AI is not an eligibility requirement.", "observations": [ { "measure": "Software revenue including services", "value": 215.291, "unit": "USD million", "period": "Quarter ended June 30, 2026", "evidence": "company_stated", "limitations": "On-premises/SaaS software plus associated services; not an isolated AI-only measure." }, { "measure": "Payment cards protected", "value": 4000000000, "unit": "cards", "period": "July 2026 company footprint", "evidence": "company_stated", "limitations": "Cards, not unique people or annual transaction volume." } ], "selected": true, "rank": null, "decision": "Added for established operational financial decisioning and fraud analytics, a role understated in the initial legal/clinical-heavy set. Scores price increases are not treated as growth in AI usage.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "guidewire", "name": "Guidewire", "economicParent": "guidewire", "eligible": true, "functions": [ "insurance-claims" ], "sourceIds": [ "guidewire-fy26" ], "roleEvidence": "Operating insurance software business reports customer expansion in pricing and AI products.", "observations": [ { "measure": "Group revenue", "value": 1475.4, "unit": "USD million", "period": "Year ended July 31, 2026", "evidence": "company_stated", "limitations": "AI product revenue and deployment count undisclosed." } ], "selected": false, "rank": null, "decision": "Eligible insurance alternative. A broad commercial software business is not automatically preferred because its group revenue is disclosed.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "ccc-intelligent-solutions", "name": "CCC Intelligent Solutions", "economicParent": "ccc-intelligent-solutions", "eligible": true, "functions": [ "insurance-claims" ], "sourceIds": [ "ccc-intelligent-solutions:ccc-q226", "ccc-intelligent-solutions:ccc-proxy-ai-extract", "ccc-intelligent-solutions:ccc-crash-champions", "ccc-intelligent-solutions:ccc-merger-8k" ], "roleEvidence": "Delivered AI-assisted claims, subrogation and repair estimating. Named Crash Champions deployment and a dated proxy AI-activity narrative support operating eligibility; pending take-private does not end the business.", "observations": [ { "measure": "Revenue from AI-based solutions", "value": "Nearly 100", "unit": "USD million", "period": "FY2025", "evidence": "company_stated", "limitations": "Approximate company-defined subset, also described as about10%; indexed primary proxy business-highlights extract, not a standardized audited segment." }, { "measure": "Insurers using AI-based solutions", "value": ">125", "unit": "insurers", "period": "FY2025", "evidence": "company_stated", "limitations": "Dated proxy narrative; not all connected businesses." }, { "measure": "Repairers using AI-based solutions", "value": ">15000", "unit": "collision repairers", "period": "FY2025", "evidence": "company_stated", "limitations": "Dated proxy narrative; inconsistent undated website counters disclosed in dossier." } ], "selected": true, "rank": null, "decision": "Added for delivered insurance/repair AI, named production use and a dated AI-activity disclosure. This introduces insurance decision workflows without using group revenue as AI revenue.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "procore", "name": "Procore", "economicParent": "procore", "eligible": true, "functions": [ "construction" ], "sourceIds": [ "procore-agents" ], "roleEvidence": "Construction-specific search, submittal, RFI and contract-review agents within an operating platform.", "observations": [], "selected": false, "rank": null, "decision": "Eligible construction alternative. The release establishes product availability, not aggregate active adoption.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "ncino", "name": "nCino", "economicParent": "ncino", "eligible": true, "functions": [ "financial-decisions" ], "sourceIds": [ "ncino-q227" ], "roleEvidence": "Commercial banking workflow software with AI commitments and institutional adoption.", "observations": [ { "measure": "Quarterly group revenue", "value": 161, "unit": "USD million", "period": "Quarter ended July 31, 2026", "evidence": "company_stated", "limitations": "AI commitments are not completed deployment or AI-only revenue." } ], "selected": false, "rank": null, "decision": "Eligible banking alternative; future customer plans are not counted as realized activity.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "sierra", "name": "Sierra", "economicParent": "sierra", "eligible": false, "functions": [], "sourceIds": [], "roleEvidence": "Cross-industry customer-service agent platform; reviewed in the enterprise-agent comparison universe.", "observations": [], "selected": false, "rank": null, "decision": "Boundary exclusion: horizontal customer service is assessed in enterprise agents. This does not imply that Sierra has no commercial activity.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "palantir", "name": "Palantir", "economicParent": "palantir", "eligible": true, "functions": [ "industrial-public" ], "sourceIds": [ "palantir:pltr-nvidia-supply-primary", "palantir:databricks-pltr", "palantir:pltr-q2-slides" ], "roleEvidence": "Operating industrial and public-sector applications; NVIDIA and bp provide named deployment evidence.", "observations": [ { "measure": "TTM revenue-generating customers", "value": 1049, "unit": "organizations", "period": "TTM ended June 30, 2026", "evidence": "company_stated", "limitations": "Includes commercial and government; 870 commercial and 653 US commercial are nested subsets, not extra customers." } ], "selected": true, "rank": null, "decision": "Retained for named operating industrial and public-sector applications. Its data-platform placement is separate; group sales are not summed across roles.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "appfolio", "name": "AppFolio", "economicParent": "appfolio", "eligible": true, "functions": [ "housing" ], "sourceIds": [ "appfolio-realmx" ], "roleEvidence": "Operating property management platform with AI agents in leasing, accounting, maintenance and resident workflows.", "observations": [ { "measure": "Enclave automated workflows", "value": ">25000", "unit": "workflows", "period": "Trailing12months in issuer customer example", "evidence": "company_stated", "limitations": "One customer; not platform-wide activity." }, { "measure": "Eucalyptus maintenance requests resolved without work order", "value": 53, "unit": "percent", "period": "Issuer customer example", "evidence": "company_stated", "limitations": "Customer-specific denominator; not a comparative performance test." } ], "selected": false, "rank": null, "decision": "Major property-platform challenger. Group unit counts are not converted into AI users; named workflow evidence makes it eligible regardless of a missing aggregate AI revenue figure.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "yardi", "name": "Yardi", "economicParent": "yardi", "eligible": true, "functions": [ "housing" ], "sourceIds": [ "yardi-agents" ], "roleEvidence": "Private property software group with commercial Virtuoso AI applications across leasing, finance and operations.", "observations": [], "selected": false, "rank": null, "decision": "Material private incumbent. No revenue or usage imputation; its platform distribution can justify replacing EliseAI under an incumbent-platform policy.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "mri-software", "name": "MRI Software", "economicParent": "mri-software", "eligible": true, "functions": [ "housing" ], "sourceIds": [ "mri-agora" ], "roleEvidence": "Operating real-estate software with AI recommendations and workflow execution; an October JAR announcement describes a future deployment rather than completed use.", "observations": [], "selected": false, "rank": null, "decision": "Eligible private property-platform challenger. The broad installed software base is not counted as active AI use.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." }, { "entityId": "applovin", "name": "AppLovin", "economicParent": "applovin", "eligible": false, "functions": [], "sourceIds": [], "roleEvidence": "AI-enabled advertising platform with a completed dossier in the Consumer, search and ads comparison.", "observations": [], "selected": false, "rank": null, "decision": "Taxonomy boundary: advertising is explicitly covered by Consumer, search and ads. It remains a major application company; a second Vertical slot would not add a distinct industry role here.", "uncertainty": "No common AI-only revenue, paid-user or activity denominator supports an ordinal comparison across this sublayer." } ], "limitations": "The 28-candidate screen is broader than the original roster but not a global census. Eight industry groups are explicit. Products and adoption definitions differ, and the predominance of English-language disclosures remains a limitation." }, "method": { "eligibility": "Current commercial product or delivered deployment supported by issuer/customer evidence. Predictive analytics and computer vision count. Public and private entities have identical eligibility rules; financing alone is insufficient.", "formula": "x_i ∈ {0,1}; Σ_i x_i ≤ 10; x_i ≤ eligible_i; at most one economic parent per sublayer. C_j = Σ_i x_i e_ij reports role coverage but has no compulsory per-sector minimum. The eligible company set, raw observations and explicit selection decisions reproduce the result; no numerical importance score is fabricated.", "activityComparison": "Compare like units within a function where possible. Preserve dates, company-defined denominators, approximate values and source coverage. Revenue, ARR, covered units, cards, clinicians and customer organizations cannot be normalized into one cardinal scale without unsupported exchange rates.", "weights": "No numerical company weights. Sector emphasis is an editorial choice exposed through complete alternative sets. A numerical weighting of these incomparable disclosures would add unsupported precision.", "tieResolution": "Companies are unordered representatives. Membership decisions explain the role and opportunity cost, while credible replacements remain visible. The method cannot prove that the chosen ten are uniquely best.", "unknowns": "Unknown financials remain unknown. No zero-fill or private-company penalty. Partial source extracts are labeled and not represented as full filing inspection.", "doubleCounting": "One controlled economic group per sublayer. Acquired content businesses remain inside the parent; cross-role placements reuse one company record. Related revenue/customer/card measures are not combined into a score." }, "recommendedSelection": [ { "entityId": "wolters-kluwer", "rank": null }, { "entityId": "thomson-reuters", "rank": null }, { "entityId": "alphasense", "rank": null }, { "entityId": "eliseai", "rank": null }, { "entityId": "harvey", "rank": null }, { "entityId": "openevidence", "rank": null }, { "entityId": "abridge", "rank": null }, { "entityId": "palantir", "rank": null }, { "entityId": "fico", "rank": null }, { "entityId": "ccc-intelligent-solutions", "rank": null } ], "coverage": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 3, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 10, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." }, "alternativesTested": { "revenueBaseline": { "rows": [ { "entityId": "thomson-reuters", "recognizedRevenueUSDm": 7476, "period": "FY2025", "sourceIds": [ "thomson-reuters:tr-fy2025" ], "normalizedToLargest": 1.0 }, { "entityId": "palantir", "recognizedRevenueUSDm": 4475.446, "period": "FY2025", "sourceIds": [ "palantir:pltr-10k-2025" ], "normalizedToLargest": 0.5986417870518994 }, { "entityId": "tempus", "recognizedRevenueUSDm": 1271.789, "period": "FY2025", "sourceIds": [ "tempus:tem-fy25-primary" ], "normalizedToLargest": 0.17011623863028358 }, { "entityId": "doximity", "recognizedRevenueUSDm": 644.9, "period": "FY2026 ended March 31, 2026", "sourceIds": [ "doximity:docs-fy26-primary" ], "normalizedToLargest": 0.08626270733012306 }, { "entityId": "c3ai", "recognizedRevenueUSDm": 250.3, "period": "FY2026 ended April 30, 2026", "sourceIds": [ "c3ai:c3-fy26" ], "normalizedToLargest": 0.033480470840021405 } ], "calculation": "Reported recognized USD group revenue / 7476, descending row order.", "interpretation": "A restricted disclosed-USD baseline demonstrates why group size is not an AI activity measure. Different fiscal periods, currencies and unavailable private revenue prevent an overall Top10 inference." }, "composite": "A composite is not estimated because no common economic denominator or independently measured quality variable supports its inputs. Choosing numerical weights would not repair that missing measurement basis." }, "stability": { "noForcedMemberTest": { "eligibleCandidates": 26, "unconstrainedTenMemberSets": 5311735, "formula": "n choose10; each member appears in (n-1) choose9 sets", "eachMemberOccurrences": 2042975, "forcedMembers": [], "interpretation": "Combinatorial feasibility demonstrates that eligibility alone does not identify a unique display. Counts are not probabilities, confidence levels or votes for companies." }, "scenarios": [ { "name": "Recommended operating-application set", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "eliseai", "harvey", "openevidence", "abridge", "palantir", "fico", "ccc-intelligent-solutions" ], "reason": "Six broad industries are represented. The set preserves substantial observed legal and clinical application use while adding financial decisioning and insurance. It is a reasoned editorial selection, not an optimized scientific ranking.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 3, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 10, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Broader industry representation", "selected": [ "wolters-kluwer", "thomson-reuters", "abridge", "alphasense", "palantir", "fico", "ccc-intelligent-solutions", "appfolio", "procore", "veeva" ], "reason": "A coherent alternative prioritizes construction and life-sciences workflows, uses AppFolio for property and reduces dedicated legal/clinical slots. Eight industries are represented. It deserves equal visibility as a scope alternative, not a footnote claiming negligible sensitivity.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 1, "clinical-knowledge": 2, "clinical-operations": 1, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 1, "life-sciences": 1 }, "industriesRepresented": [ "clinical", "construction", "finance", "industrial and public sector", "insurance and repair", "legal", "life sciences", "property" ], "industryCount": 8, "retainedFromRecommendation": 7, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Incumbent distribution platforms", "selected": [ "wolters-kluwer", "thomson-reuters", "relx", "clio", "epic", "alphasense", "fico", "ccc-intelligent-solutions", "yardi", "palantir" ], "reason": "Emphasizes broad professional and system-of-record distribution. Private Yardi remains eligible despite missing comparable financials. The policy favors distribution reach over dedicated-application examples.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 4, "legal-work": 3, "clinical-knowledge": 2, "clinical-operations": 1, "financial-intelligence": 2, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 6, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Property platform: AppFolio", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "appfolio", "harvey", "openevidence", "abridge", "palantir", "fico", "ccc-intelligent-solutions" ], "reason": "Named production workflows justify the substitution; housing coverage does not make EliseAI mandatory.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 2, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 9, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Property platform: Yardi", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "yardi", "harvey", "openevidence", "abridge", "palantir", "fico", "ccc-intelligent-solutions" ], "reason": "Private incumbent with current commercial AI. Missing comparable revenue is not set to zero.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 2, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 9, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Property platform: MRI", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "mri-software", "harvey", "openevidence", "abridge", "palantir", "fico", "ccc-intelligent-solutions" ], "reason": "Commercial availability supports the role; announced JAR rollout is not counted as already delivered activity.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 2, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 9, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Insurance platform: Guidewire", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "eliseai", "harvey", "openevidence", "abridge", "palantir", "fico", "guidewire" ], "reason": "Prioritizes insurer system-of-record distribution over CCC repair/claims specialization. Existing insurer cloud customers are not all assumed to be AI users.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 3, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 9, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Clinical platform alternatives", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "eliseai", "harvey", "epic", "doximity", "palantir", "fico", "ccc-intelligent-solutions" ], "reason": "Shows that clinically useful coverage does not uniquely identify two specialist companies.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 2, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 3, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 8, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Legal workflow alternatives", "selected": [ "wolters-kluwer", "thomson-reuters", "alphasense", "eliseai", "clio", "openevidence", "abridge", "palantir", "fico", "ccc-intelligent-solutions" ], "reason": "Consolidated legal research and practice-management distribution is an equally defensible route to the legal-workflow role.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 3, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 3, "financial-intelligence": 1, "housing": 1, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 1, "construction": 0, "life-sciences": 0 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "property" ], "industryCount": 6, "retainedFromRecommendation": 9, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } }, { "name": "Disclosed public-company revenue policy", "selected": [ "wolters-kluwer", "thomson-reuters", "relx", "tempus", "doximity", "palantir", "fico", "ccc-intelligent-solutions", "guidewire", "veeva" ], "reason": "Illustrates disclosure bias: private specialists disappear if comparable reported company revenue becomes a prerequisite. This is not the recommended eligibility policy.", "feasible": true, "diagnostics": { "companyCount": 10, "functionalCoverage": { "legal-content": 3, "legal-work": 2, "clinical-knowledge": 3, "clinical-operations": 2, "financial-intelligence": 1, "housing": 0, "industrial-public": 1, "financial-decisions": 1, "insurance-claims": 2, "construction": 0, "life-sciences": 1 }, "industriesRepresented": [ "clinical", "finance", "industrial and public sector", "insurance and repair", "legal", "life sciences" ], "industryCount": 6, "retainedFromRecommendation": 5, "interpretation": "Descriptive counts only. Finer functional labels are not independent market sizes, and coverage count is not a company importance score." } } ], "weightSensitivity": "Sector preferences materially change membership, as the broader-industry and incumbent-platform scenarios show. The recommendation does not claim numerical or scientific stability under those preference changes.", "estimateSensitivity": "Changing a covered-unit, ARR or usage estimate within a plausible range does not mechanically re-sort incompatible measures. If a correction changes evidence of material operating activity, the corresponding editorial comparison must be repeated and recorded.", "missingDataSensitivity": "The public-company scenario makes disclosure bias visible. It is not adopted. Substituting private Yardi or MRI shows that incomplete financial disclosure does not eliminate eligibility.", "cutoffRule": "No ordinal tenth place. Publish the representative set, its rationale and material alternatives. Scope changes, corporate control changes or stronger current operating evidence can justify a documented substitution." }, "sources": [ { "id": "wk-h126-primary", "url": "https://assets.contenthub.wolterskluwer.com/api/public/content/3775537-2026-08-05-wolters-kluwer-2026-half-year-results-7d85c04c6c?v=15135ed1", "title": "2026 half-year results", "publisher": "Wolters Kluwer", "publishedDate": "2026-08-05", "accessedDate": "2026-10-21", "type": "filing", "packetId": "wolters-kluwer" }, { "id": "wk-fy25-primary", "url": "https://assets.contenthub.wolterskluwer.com/api/public/content/3118646-2026-02-25-wolters-kluwer-2025-full-year-results-7391945524?v=2c966da9", "title": "2025 full-year results", "publisher": "Wolters Kluwer", "publishedDate": "2026-02-25", "accessedDate": "2026-10-21", "type": "filing", "packetId": "wolters-kluwer" }, { "id": "tr-fy2025", "url": "https://www.prnewswire.com/news-releases/thomson-reuters-reports-fourth-quarter-and-full-year-2025-results-302680103.html", "title": "Thomson Reuters Reports Fourth-Quarter and Full-Year 2025 Results", "publisher": "Thomson Reuters (PR Newswire)", "publishedDate": "2026-02-05", "accessedDate": "2026-10-21", "type": "press_release", "packetId": "thomson-reuters" }, { "id": "tr-cocounsel-1m", "url": "https://www.prnewswire.com/news-releases/one-million-professionals-turn-to-cocounsel-as-thomson-reuters-scales-ai-for-regulated-industries-302694903.html", "title": "One Million Professionals Turn to CoCounsel as Thomson Reuters Scales AI for Regulated Industries", "publisher": "Thomson Reuters (PR Newswire)", "publishedDate": "2026-02-24", "accessedDate": "2026-10-21", "type": "press_release", "packetId": "thomson-reuters" }, { "id": "tr-oct14-global", "url": "https://www.thomsonreuters.com/en/press-releases/2026/october/legal-work-crosses-borders-now-so-does-cocounsel-legal", "title": "CoCounsel Legal international availability and Multinational Profile", "publisher": "Thomson Reuters", "publishedDate": 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