- Rooted in Thomson Reuters trusted content, CoCounsel, the
professional-grade GenAI assistant, will transform work and unify
the entire customer experience with applications across legal, tax,
risk & fraud, and media.
- Designed to enable professionals to accelerate and streamline
entire workflows to increase efficiency, produce better work, and
deliver more value for their clients.
- Thomson Reuters is today also adding new GenAI skills to
CoCounsel's capabilities through Westlaw Edge UK with CoCounsel and
Checkpoint Edge with CoCounsel.
- And connecting CoCounsel to Microsoft 365 applications to
accelerate research, drafting and review.
TORONTO, April 17,
2024 /CNW/ -- Thomson Reuters (TSX/NYSE: TRI),
a global content and technology company, today announced the
expanded vision for CoCounsel, its professional-grade GenAI
assistant.
CoCounsel will unify the entire customer experience and give
customers a new way to access Thomson Reuters product capabilities
through a single GenAI assistant with applications across Legal,
Tax, Risk & Fraud, and Media.
CoCounsel is an AI assistant that acts like a team member –
handling complex tasks with natural language understanding.
Completing tasks at superhuman speeds, CoCounsel provides
high-quality information at the right time, maintains multiple
threads of work, as well as keeping context and memory across the
different tasks and products customers use each day. By augmenting
professional work with GenAI skills, CoCounsel delivers accelerated
and streamlined workflows, enables professionals to produce
higher-quality work more quickly, all while keeping customer data
secure. Watch more here.
Over time CoCounsel will link Thomson Reuters products across
its entire portfolio, meaning customers can bring together multiple
skills and workflows from different products into one place to
enhance user experience and value.
"Today, Thomson Reuters published a global AI study sharing that
81% of professionals believe AI could be applied to their work;
responding to customers changing needs challenges us to build and
apply the very best applications of GenAI to professional work,"
said David Wong, Thomson Reuters
Chief Product Officer. "Our unique combination of resources means
we can deliver on our vision of providing professionals a new,
human-centric point of access to our suite of Thomson Reuters
products. As our products continue to expand and improve, the
customer experience will remain centered in our GenAI assistant as
CoCounsel learns new skills and capabilities - unlocking
productivity and becoming the way professionals work."
Thomson Reuters uses cutting-edge generative AI technologies.
For example, CoCounsel is powered by GPT-4, thanks to an early and
ongoing partnership with OpenAI.
"We are excited to continue working with Thomson Reuters. By
powering solutions like CoCounsel, their new professional-grade AI
Assistant, together we make knowledge workers more creative and
productive," said Brad Lightcap, COO
at OpenAI. "AI automates routine tasks and makes it possible to
quickly analyze huge amounts of data – but even more importantly,
it helps people come up with new ways to solve complex
problems."
Delivering new CoCounsel skills for Tax and Legal
professionals
CoCounsel is embedded in and delivers the power of GenAI where
professionals work, whether it's in Westlaw Precision with
CoCounsel, and Practical Law Dynamic Tool Set with CoCounsel.
Today, the company is announcing new, additional skills for both
Tax and Legal professionals including:
- Checkpoint Edge with CoCounsel – Our first generative AI
product for tax professionals delivers better, faster answers to
complex tax research questions, rooted in Thomson Reuters trusted
proprietary content, enhancing efficiency for seasoned researchers
and enabling inexperienced researchers to work with reduced
supervision.
- Westlaw Edge UK with CoCounsel – The first Thomson
Reuters generative AI legal research offering in the UK streamlines
the initial phase of legal research, allowing customers to ask
complex questions in natural language and delivering a synthesized
answer grounded in trusted Westlaw content with detailed insights
from top results including a list of key cases, legislation, and
related topics.
- CoCounsel Integrations with Microsoft 365 – With
third-party integrations, CoCounsel will connect professionals with
the tools they use daily starting with Microsoft 365 - adding
CoCounsel applications for Teams, Word, Outlook, and SharePoint to
accelerate research, drafting and review.
"At Ford, we constantly pursue technology at the forefront of AI
and machine learning innovation, to strengthen operations across
the company, from design and manufacturing to legal and compliance.
When I first saw CoCounsel as a beta customer, I knew it was a
game-changer," said Darth Vaughn,
Managing Director, Legal Ops+ and Litigation Counsel at Ford Motor
Company. "With CoCounsel, we work more efficiently and thoroughly,
giving people in a wide range of roles more time for higher-level,
strategic work, as well as cross-functional coordination. We
eagerly anticipate skills that continue to enhance our legal
professionals and our broader organization."
Thomson Reuters will use its GenAI platform to create even more
GenAI skills, and they'll be introduced into products across every
business segment it serves under the CoCounsel brand. Thomson
Reuters is well-positioned to deliver an experience that will
transform professional work by calling on its 30+ years of
experience in this field and its proprietary content used to
continue to expand its GenAI platform.
The GenAI platform - accelerating the delivery of
professional-grade GenAI
Thomson Reuters has invested in infrastructure positioning them to
innovate with GenAI—designing, developing, and launching new,
high-quality GenAI features—quickly and securely, aligned to
its Data and AI Ethics Principles.
Thomson Reuters has both trusted, proprietary, content
knowledge-based models, as well as a portfolio of workflow-embedded
software tools, all brought together through its one-of-a-kind
GenAI engineering platform. This common development platform
enables the company to design, build, and deploy reusable GenAI
components that become the building blocks for future skills and
products, positioning the company to deliver on a vision for
enabling professionals across multiple industries to seamlessly
complete complicated work involving multiple products through a
single GenAI assistant.
Availability
- Westlaw Edge UK with CoCounsel is available to customers
in the UK.
- Checkpoint Edge with CoCounsel is expected initially in
the United States, starting from
summer 2024.
- CoCounsel Integrations with Microsoft 365 are expected
to be available in beta to customers in the USA and UK from summer 2024.
- Further roll out of CoCounsel skills are expected across 2024
and beyond.
Thomson Reuters
Thomson Reuters (TSX/NYSE: TRI)
("TR") informs the way forward by bringing together the trusted
content and technology that people and organizations need to make
the right decisions. The company serves professionals across legal,
tax, accounting, compliance, government, and media. Its products
combine highly specialized software and insights to empower
professionals with the data, intelligence, and solutions needed to
make informed decisions, and to help institutions in their pursuit
of justice, truth, and transparency. Reuters, part of Thomson
Reuters, is a world leading provider of trusted journalism and
news. For more information on Thomson Reuters, visit tr.com
and for the latest world news, reuters.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL
RISKS AND MATERIAL ASSUMPTIONS. Certain statements in this news
release are forward-looking, including, but not limited to,
statements regarding the company's strategic priorities,
initiatives and opportunities. The words "expect", "believe" and
similar expressions identify forward-looking statements. While the
company believes that it has a reasonable basis for making
forward-looking statements in this news release, they are not a
guarantee of future performance or outcomes and there is no
assurance that any of the other events described in any
forward-looking statement will materialize. Forward-looking
statements are subject to a number of risks, uncertainties and
assumptions that could cause actual results or events to differ
materially from current expectations. Many of these risks,
uncertainties and assumptions are beyond our company's control and
the effects of them can be difficult to predict. You are cautioned
not to place undue reliance on forward-looking statements which
reflect expectations only as of the date of this news release.
Except as may be required by applicable law, Thomson Reuters
disclaims any obligation to update or revise any forward-looking
statements.
Contacts
Ali Hughes
Thomson Reuters Communications
Ali.Hughes@thomsonreuters.com
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SOURCE Thomson Reuters