Windows 11 is constantly getting new features lately from live captions to Voice Access and now there looks to be new "intelligent" features in the work that have not been explored by others.
The Smart Clipboard
(Source from FireCubeStudios)
The last few dev builds have been containing a component referred internally as the smart clipboard. The image above showcases Smart Clipboard with place holder items. Internally the items are labelled as entities and could suggest recommended actions. There is a possibility that the smart clipboard would have a design akin to live captions instead of the normal clipboard.
Smart Actions settings
In addition to the Smart Clipboard there is a dedicated page in the Settings app for Smart Clipboard which can include settings for Smart Actions beyond the clipboard.