First step
Presumably the first thing Watson will report on will be the vast numbers of regulations which are incompatible, inconsistent, contradictory, redundant, etc. Given that the regulations have been created piecemeal, over a period of years, by separate groups of extremely fallible human beings, they are bound to be riddled with errors. All the more so as the people who drafted the regulations probably had not the slightest inkling that their work would ever be checked by a computer program.