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Thomson Reuters

Thomson Reuters Launches Upgraded Version of AI-Powered Virtual Assistant

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Following its quarterly earnings report, the artificial intelligence-focused Thomson Reuters launched CoCounsel 2.0, an upgraded digital assistant powered by generative AI. The second iteration of TR’s virtual assistant, which targets the legal sector, boasts enhanced capabilities thanks to additional integration of learning models and data from Google Cloud, OpenAI, and Thomson Reuters’ own proprietary assets.

“Thomson Reuters is here for one reason: to ensure our customers reliably and safely realize the greatest possible value from this generational technology—as quickly as possible,” stated David Wong, chief product officer for Thomson Reuters. “CoCounsel 2.0 is founded upon our ability to combine our data, expertise, and trusted content with cutting-edge technology.”

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Many Canadian Pros Predict Time Savings with AI, but Not Everyone is Convinced

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Artificial intelligence is set to revolutionize workflows and open new growth avenues, according to Thomson Reuters’ latest “Future of Professionals” report. “Professionals no longer need to speculate on AI’s impact,” says CEO Steve Hasker, noting firsthand effects.

Respondents foresee AI saving up to 12 hours weekly per worker within five years, akin to adding an extra team member for every ten. Despite 77% anticipating AI’s transformative impact, 35% remain unsure about its applications. Hasker emphasizes that while AI is a “force for good,” its future depends on creators and users.

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Ontario Government Invests $166 Million to Transform Legal Services with Digital Platform

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The Ontario government has committed $166 million to revolutionize legal services by introducing a digital platform that replaces outdated paper-based procedures. This investment aims to enhance access to the Superior Court of Justice and the Ontario Court of Justice.

Thomson Reuters has been awarded the contract to develop and implement this new digital justice platform.

Attorney General Doug Downey expressed his excitement, stating that this move brings Ontario one step closer to a modern and efficient digital justice system.

The platform will enable users to file documents, access case information, pay fees, participate in virtual hearings, manage court appearances, and receive decisions electronically.

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Thomson Reuters to Expand AI Solutions with $650 Million Casetext Acquisition

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Thomson Reuters, the global content and technology company, has announced its definitive agreement to acquire California-based Casetext, a provider of legal technology.

The deal, valued at $650 million in cash, will bolster Thomson Reuters’ existing AI roadmap. This move aligns with the company’s commitment to invest over $100 million annually in AI capabilities.

Casetext, founded in 2013, utilizes advanced AI and machine learning to develop efficient solutions for legal professionals. Its key product, CoCounsel, powered by OpenAI’s GPT-4, enables quick document review, legal research, deposition preparation, and contract analysis.

This acquisition supports Thomson Reuters’ goal to revolutionize professional work through generative AI solutions.

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