CRIV CONNECTION

Author: Ashley Arrington, Head of Instruction at Texas Tech University School of Law Library

On December 3, 2024, CRIV held its semiannual conference call with Bloomberg Law. Below are the key takeaways from the discussion, along with a list of participants:

Participants: Ashley Arrington (CRIV Liaison to Bloomberg); Madeline Cohen (Bloomberg Library Relations Director); Shamika Dalton (CRIV Board Liaison); Vani Ungapen (AALL Executive Director)

2025 Vendor Roundtable

Bloomberg Law is expected to participate in the upcoming 2025 Vendor Roundtable, tentatively scheduled for late spring or early summer.

Bloomberg’s Responses to CRIV Questions

1. Planned Removal of ALM Materials

ALM has notified all vendors, including Bloomberg, that it will no longer license its content outside of its own platform. Bloomberg confirmed that ALM materials will remain available at least through the end of 2025, and recommended contacting ALM directly for further clarification on these licensing changes and the resources affected.  

2. Concerns Over Pricing for Small to Mid-Sized Firms

Another discussion point was the pricing concerns raised by small to mid-sized firms, where high renewal proposals have caused some firms to opt out of subscriptions due to budget constraints. Bloomberg responded by noting its commitment to expanding within this market and clarified that many firms are shifting from “sliced” subscriptions to firm-wide models, which come with a standardized price. While pricing remains firm, Bloomberg emphasized that there is room for negotiation during renewals on a case-by-case basis.

3. Generative AI Tools – Development & Release Timeline

Bloomberg Law is making significant strides in the generative AI space, with two new tools set to be launched in Q1 2025:

• Bloomberg Law Answers: This Q&A interface is designed to improve the user experience by providing smart filters and case detection for various primary and secondary sources.
• Bloomberg AI Assistant: This tool will offer features such as document summarization and interrogation, allowing users to ask specific questions about legal documents.

4. Plans for Archiving Materials

Bloomberg Law continues to focus on improving its archiving practices. Materials are archived twice a year, typically in February and September, with prior notification to customers. The company is exploring methods to ensure the long-term accessibility of archived materials, though cost limitations may impact certain preservation approaches. Bloomberg is open to feedback on how to improve archiving methods.

New Content & Features

1. Bloomberg Law 2025 Series

The new Bloomberg Law 2025 Series features over 30 articles by legal analysts, offering insights into what the future holds for legal professionals and the industry. This content is now available on the platform.

2. 2024 Surveys

Bloomberg has released new survey data covering key topics such as attorney wellness and paths to legal practice. These surveys offer valuable analytics that can help shape practice and policy moving forward.

3. Dockets

In 2024, Bloomberg Law added more than 500 new and enhanced dockets to its platform. Looking ahead, Bloomberg plans to focus on improving administrative tools for docket management and alert notifications.

Bloomberg’s Recent Engagement with AALL

1. Webinar: “Bridging the Gap from Law School to Legal Practice”

Bloomberg hosted a well-received webinar on transitioning legal skills from academia to practice, drawing nearly 70 attendees. The recording is available on AALL eLearning.

2. 2024 CRIV Vendor Roundtable

Bloomberg showcased its AI-driven tools, such as the Clause Adviser, during the 2024 CRIV Vendor Roundtable. The demonstration illustrated how these tools can assist in tasks like revising contracts to favor specific parties.

Final Notes from AALL Executive Director Vani Ungapen

AALL’s Executive Director, Vani Ungapen, expressed appreciation for Bloomberg’s support of the CPE grant and noted that registration for the 2025 AALL Annual Meeting & Conference will open in late February/early March, with additional sponsorship details to be released soon.