Global News
Thomson Reuters, 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:
“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.
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