- Ask practical law AI about practical law We provide a generative, intuitive AI-powered chat experience that improves access to trusted practical law expertise and content.
- Practical Law Clause FinderIntegrated with Microsoft Word, customers can use AI models trained by practicing law editors to find relevant provisions in practicing law, SEC agreements, and their own internal documents.
- CoCounsel Core Internationalization Execute M&A strategy by expanding AI-powered generative skills to Canada and Australia
Toronto, January 24, 2024 – Thomson Reuters (TSX/NYSE: TRI), a global content and technology company, is advancing its AI technology strategy and today announced the launch of its second and third AI-enabled solutions in the past three months. Announced. Further demonstrating its leadership in transforming the way legal professionals work, Thomson Reuters also announced the start of international expansion of CoCounsel Core. These efforts are driven by Thomson Reuters’ commitment to invest more than $100 million annually in AI capabilities as part of its “Build, Buy, Partner” strategy.
Two of the new AI-driven capabilities were developed using Thomson Reuters content and capabilities, leveraging expertise gained from the Thomson Reuters Generated AI Platform and insights from practicing law experts. I did. Ask Practical Law AI on Practical Law is a generative, intuitive, AI-powered chat experience that dramatically improves the way your customers access trusted expertise and content, all in one skill. Practical Law Clause Finder is built using AI models trained by Practical Law editors and is integrated with Microsoft Word to greatly streamline contract creation and improve efficiency. Designed. Clause Finder allows a customer to find contract language written by practicing law experts, agreements previously filed with her SEC, and the customer’s own internal documents.
Additionally, Thomson Reuters achieved a significant milestone by leveraging CoCounsel Core in Canada and Australia to make its generative AI skills available to international customers. Following the acquisition of Casetext, Thomson Reuters is implementing a strategy to make this flagship product available to customers in additional countries to access the set of skills used to complete everyday legal tasks. The power of combined teams and resources has made product internationalization a reality, resulting in a more robust product that leverages the strengths of both companies.
“Last year, we began bringing new and exciting generative AI skills to market. This year will be the year that our customers begin to see significant improvements in productivity and the quality of their work products. We are moving faster and launching more innovative products to help us better serve our customers than ever before,” said David Wong, Chief Product Officer, Thomson Reuters. “Our entire approach to generative AI starts with our customers and how we can best serve their needs and bring together our strongest assets: our leadership in AI, trusted content, and human expertise. ”
These updates further enhance Thomson Reuters’ industry-leading legal solutions and include the first in a series of generative AI-powered product rollouts in 2024. The foundation of these enhancements is Thomson Reuters’ generative AI platform. It is a comprehensive innovation resource that enables the company to quickly and easily launch new solutions by leveraging reusable components and integrating content, artificial intelligence, generative AI, and more as building blocks. is. future products.
Ask practical law AI about practical law
Ask Practical Law AI on Practical Law is an intuitive generative AI chat that dramatically improves the way clients access trusted practical law expertise and content. Connect your clients with deeper insights by providing faster, summarized and synthesized answers based on practical legal know-how. All of this is verified by trusted practice law content created and maintained by a team of over 650 attorneys.
This first phase of Ask Practical Law AI reduces the time needed to review results, read and summarize material, and quickly moves users from questions to work products. Future enhancements will leverage generative AI to provide deeper access to practice law features such as What’s Market Analytics and Quick Compare. Additionally, Ask Practical Law AI will be integrated with intelligent drafting solutions launching later this year.
Practical Law Clause Finder
Practical Law Clause Finder allows customers to quickly search and add market and gold standard clauses to drafts from practical law, SEC agreements, and proprietary internal documents without leaving Microsoft Word. This tool uses AI models built and trained by expert practical law editors to help customers access the best terms for their contracts and streamline drafting without leaving the page, so they can You can significantly reduce the amount of time you spend searching various platforms and locations to find and insert clauses that you want to use.
Practical Law Clause Finder, a foundational component of future intelligent drafting solutions that leverage generative AI technology, will first be available in the US for 12 contract types and then expand to the UK and Canada.
“Lawyers rely on Practice Law to provide them with the right answers, quickly, along with tools and insights to improve their workflows,” said Emily Colbert, senior vice president of product management at Thomson Reuters. Masu. “Our new generative AI tool leverages practical law efficiencies and know-how to quickly provide users with summarized answers. We take efficiency to the next level by giving you access to the resources you need, whether from the law or from yourself.”
joint advisor core
CoCounsel Core, which was introduced in the US last year, is now being launched in international markets. His traditional CoCounsel skills have been expanded to English-speaking countries, starting with customers in Canada and Australia, further demonstrating the strategic value of the Casetext acquisition. CoCounsel Core leverages innovation to deliver AI-powered generation of deposition preparation, draft correspondence, database searches, document reviews, document summaries, contract data extraction, contract policy compliance, timelines, and more. provide customers with core skills.
Note to editor: Screenshots are available from the link below.
Thomson Reuters
Thomson Reuters (NYSE / TSX: TRI) (“TR”) informs the future by bringing together the trusted content and technology people and organizations need to make the right decisions. The company serves legal, tax, accounting, compliance, government, and media professionals. Its products combine highly specialized software and insights to provide professionals with the data, intelligence and solutions they need to make informed decisions and pursue justice, truth and transparency. Support institutions. Reuters, part of Thomson Reuters, is the world’s leading provider of trusted journalism and news. For more information, please visit tr.com.
contact
dave moran
+1.647.480.7581
dave.moran@thomsonreuters.com
