Automated Will Modification Tracking via Transaction Analysis

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Solution Overview

Problem

Wills often go unupdated, leading to inefficient use of computer resources and inaccurate tracking of events that impact the will, due to lack of regular maintenance and unfamiliarity with updating processes, especially regarding charitable donations and jurisdictional legal effectiveness.

Innovation Solution

A platform uses machine learning models to identify transactions associated with events, themes, or transaction parameters, determining potential modifications to a will by processing transaction and entity information, and providing these modifications to subject matter experts for implementation.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If manual tracking and updating of will modifications is used, then human judgment and flexibility are maintained, but the process is slow, subjective, and inefficient

Engineering Contradiction:

Improvespeed of will modification trackingVSAvoidlevel of manual processing

Core Design Contradiction:

ProductivityVSExtent of automation

Solution Approach 1:

The system enables automatic self-updating of will documents by continuously monitoring transactions and events, identifying relevant modifications, and implementing updates without requiring manual intervention from users or legal professionals

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

Manual mechanical processes of will review and updating are replaced with automated computational systems that use machine learning models to analyze transactions, detect events, and determine necessary will modifications

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

2Measurement precision

If comprehensive transaction monitoring is implemented, then accuracy of will updates improves, but computing resource consumption increases

Engineering Contradiction:

Improveaccuracy of event detectionVSAvoidcomputing resource usage

Core Design Contradiction:

Measurement precisionVSUse of energy by moving object

Solution Approach 1:

The system pre-establishes rules, thresholds, and machine learning models for identifying relevant transactions and events, enabling efficient real-time processing without requiring exhaustive analysis of all transaction data

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system dynamically adjusts monitoring parameters, thresholds, and analysis depth based on transaction patterns, entity profiles, and event significance to optimize the balance between detection accuracy and computing resource consumption

Inventive Principle:

Principle #35Parameter changes

Data Source

PatentUS11682092B2Updating a document based on transaction analysis

Publication Date: 2023.06.20 CAPITAL ONE SERVICES LLC

AI summary

A platform receives transaction information for an entity, where the transaction information identifies a plurality of transactions associated with the entity, and receives entity information associated with the entity. The platform identifies, using a first model, a selected set of transactions based on the transaction information and the entity information, where the first model outputs information identifying the selected set of transactions based on the selected set of transactions being associated with an event, a theme, or a transaction parameter. The platform determines, using a second model, potential modifications to a document based on the selected set of transactions, where the second model receives the information identifying the selected set of transactions or information identifying the event, the theme, or the transaction parameter, and where the second model outputs information identifying the potential modifications. The platform provides the information identifying the potential modifications.