AI-Powered Congressional Transcripts From FiscalNote (NYSE: NOTE) So You Never Miss Another Floor Speech

February 03, 2023 at 09:25 AM EST

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By Jad Malaeb, Benzinga

Artificial intelligence (AI) made huge strides in 2022.

The release of OpenAI’s ChatGPT exemplified AI’s evolution. The chatbot broke news headlines in November 2022 when its user count crossed 1 million in the first week of its launch.

The mind-boggling user growth inspired comparisons to the growth rates of its larger corporate counterparts, and the results were outstanding. ChatGPT achieved 1 million users faster than Netflix, Facebook, Spotify and Instagram by a significant margin. It took Netflix, for example, nearly three and a half years to achieve 1 million users.

The outstanding growth rates reflect ChatGPT’s incredible capabilities. The chatbot has been used to write content, conceive business plans, design new recipes, dictate code for a stock market strategy, create novels, solve math problems and provide professional advice.

ChatGPT’s usefulness has prompted the rise of AI in a number of industries, including, perhaps surprisingly, politics.

How AI Has Played A Role In Politics

As a tech-based agency specialized in collecting data on the regulatory processes in the U.S. and abroad, FiscalNote (NYSE: NOTE) has had extensive experience integrating AI into their data intelligence solutions.

FiscalNote leverages AI’s computing and locating abilities to transform a bulk of unstructured data into actionable insights. FiscalNote’s clients, for example, receive a timeline of key events relating to millions of companies, and the timeline is augmented with AI-generated scores for quick assessment. FiscalNote’s AI solutions also provide industry coverage based on billions of data points extracted from over 100 million documents, and these are updated daily with millions of data points.

The breadth and timeliness of this data makes FiscalNote a unique source for actionable political and financial information. The company has also provided AI solutions better suited for specific tasks. FiscalNote’s AI capabilities, for example, extend onto Environmental, Social and Governance (ESG) reporting, Earnings Call Transcripts, Market Sentiment, News Pulse and SEC filings, all of which allow clients to remain ahead of the competition.

FiscalNote Leverages AI-Powered Transcription For Congressional Speeches

On Nov. 29, 2022, FiscalNote announced that Fireside – its constituent relationship management (CRM) software for Federal, State and Local governments – will be upgraded with the integration of AI-powered transcripts and videos of elected officials’ floor speeches, debates and committee hearings.

Fireside’s AI integration will empower communication between legislators and the general public by providing a streamlined path to important political speeches. FiscalNote’s proprietary CRM will enable direct access to these speeches, transcribing them and transporting them to the Fireside platform within an hour after the delivery of the remarks.

This is a game-changer for press secretaries, communication directors, chiefs of staff, speechwriters and district office staff who rely on fast and secure communications to stay ahead of traditional media coverage. At the same time, this service offers some of the quickest paths to the generation of reliable, swift and actionable content for press releases, newsletters and other constituent-facing communications.

“Fireside has always been the essential go-to toolkit on Capitol Hill for the management of constituent communications and engagement, and with this integration of Congressional speeches and remarks, Fireside is set to deliver even more value for our customers at a time when electoral change and redistricting has made communications and transparency even more of a critical priority for lawmakers and their staff,” said Josh Resnik, President & Chief Operating Officer, FiscalNote.

This article was originally published on Benzinga here.

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