Thomson Reuters has launched a series of initiatives aimed at transforming the legal profession through the use of generative AI.
These initiatives are set to provide legal professionals with powerful tools to enhance their research and workflow, the global content and technology company said in a Wednesday (Nov. 15) press release.
One of the key highlights of these initiatives is the introduction of GenAI within the AI-Assisted Research on Westlaw Precision platform. This skill allows legal professionals to quickly find answers to complex research questions, drawing from a comprehensive collection of editorially enhanced content.
Thomson Reuters is also building on the AI assistant experience created with CoCounsel, an AI legal assistant. In 2024, they will launch an AI assistant that will serve as the interface across Thomson Reuters products with GenAI capabilities. This integration will provide customers with a seamless experience and the ability to choose the right skills to solve their specific legal problems.
With the introduction of AI-Assisted Research and CoCounsel Core, legal professionals will have access to eight GenAI-powered core skills. These skills include AI-Assisted Research on Westlaw Precision, Prepare for a Deposition, Draft Correspondence, Search a Database, Review Documents, Summarize a Document, Extract Contract Data and Contract Policy Compliance.
Thomson Reuters also has plans to develop numerous additional GenAI skills to address customer-specific needs.
Thomson Reuters’ GenAI tools leverage the capabilities of Thomson Reuters Labs, the company’s 1,600 attorneys and its content, Mike Dahn, head of Westlaw Product Management at Thomson Reuters, said in the release.
“Our human oversight, technology expertise and industry-leading content are critical to producing trusted answers with generative AI,” Dahn said. “This tool won’t obviate the need for attorneys, but it will help them do their work better and faster.”
PYMNTS Intelligence has found that the natural language capabilities of GenAI offer unprecedented advantages for distilling legal information and synthesizing actionable insights. The technology can dramatically accelerate the completion of legal tasks without diluting quality, according to “The Confluence of Law and AI: An Inevitability Waiting to Happen,” a PYMNTS and AI-ID collaboration.
The report also found that GenAI offers the potential to redistribute workloads in ways that can liberate junior associates to conduct more complex, value-added work.
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