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Thomson Reuters Reaches Significant Milestone with CoCounsel

In a groundbreaking announcement made by Thomson Reuters, the renowned global content and technology company, one million professionals are now utilizing CoCounsel, its cutting-edge professional-grade AI technology. This achievement spans across 107 countries and territories, highlighting a major shift in how regulated industries, including legal, risk, compliance, tax, accounting, and audit, are adopting advanced AI solutions.

The adoption of CoCounsel showcases a broader trend as the once experimental nature of AI technology transitions into practical, everyday applications. Gone are the days when AI was solely a standalone tool; now, firms are integrating AI directly into their daily operations, where precision, sourcing, and maintaining data confidentiality are of utmost importance.

While general-purpose AI can produce accurate information, regulated professionals require solutions that can withstand scrutiny in high-stakes environments such as courtrooms and audits. CoCounsel has been built with these criteria in mind, enabling it to retrieve authoritative sources, confirm citations, and apply jurisdiction-specific rules essential for legal operations.

Meet CoCounsel: A Tailored AI Solution

Thomson Reuters emphasizes that CoCounsel meets the rigorous demands of regulated work. Here are some of the standout features:

• - Licensed, Authoritative Content: CoCounsel’s outputs are based on high-quality legal and tax sources, ensuring reliability over non-validated public data.
• - Expert Validation: Domain specialists continuously refine the workflow logic and quality standards, understanding that errors can have serious repercussions.
• - Seamless Workflow Integration: The AI operates directly within existing research, drafting, and compliance platforms, streamlining task execution without disrupting established professional systems.
• - Data Protection by Design: Customer information remains secure, as Thomson Reuters avoids repurposing any client data for training third-party models.
• - Multi-model Architecture: By collaborating with leading AI model providers, including Anthropic, OpenAI, and Google, alongside its proprietary technology, Thomson Reuters maintains oversight and governance of the system's performance.

Transition from Tools to Execution Layers

With the legal, tax, audit, and compliance sectors evolving, AI must assist professionals in retrieving pertinent authority, analyzing structured and unstructured data, and producing outputs that are legally compliant under scrutiny. CoCounsel acts as an execution layer, ensuring that complex workflows can be managed with clarity and accuracy. This integration of foundational models, proprietary engineering, and expert knowledge enables CoCounsel to fulfill multi-step processes entirely.

Encouraging developments are on the horizon, with the next generation of CoCounsel Legal set to enter beta testing soon. This update is engineered for conversational task execution, allowing legal professionals to communicate their objectives as they would with a colleague. CoCounsel will then formulate a strategy, retrieve relevant information from Westlaw and Practical Law, verify documentation, and deliver a well-structured work product—all within a unified system. Following this, additional enhancements for CoCounsel Tax and ONESOURCE+ are scheduled for launch later in the year.

As the professional landscape welcomes AI, the crucial consideration is not merely its speed in producing content but whether it can support activities that bear significant legal or financial implications. With a community of one million professionals relying on CoCounsel, Thomson Reuters is not just a participant in the AI landscape; it is setting the standards for how AI is employed in high-impact fields set with legal and financial stakes.

About Thomson Reuters

Thomson Reuters (TSX/Nasdaq: TRI) plays a pivotal role in guiding professionals by providing the trusted information and technology necessary for sound decision-making. Catering to legal, tax, audit, accounting, compliance, and media fields, the company combines sophisticated software solutions with insights that empower individuals and organizations. Reuters, a subsidiary of Thomson Reuters, continues to be a notable leader in delivering reliable journalism and news services.

For further information regarding CoCounsel and its array of features, visit thomsonreuters.com/cocounsel.