LexisNexis Legal & Professional launched its AI-powered research tool, Nexis+ AI, on Wednesday (July 17). The platform aims to transform how companies gather and analyze critical business information, leveraging generative artificial intelligence (AI) to sift through vast amounts of data at unprecedented speeds.
The launch comes as businesses across industries grapple with information overload, seeking to extract actionable insights from an ever-growing data deluge. Nexis+ AI claims to address this challenge with features such as rapid research analysis, document summarization, and automated report generation.
“Business leaders across nearly every industry tell us they need deeper, more accurate insights to better facilitate timely decisions, but they find the amount of corporate data daunting and the process time consuming,” Todd Larsen, president of Nexis Solutions, said in a news release.
At the heart of Nexis+ AI’s offering is a repository of licensed content, including over 20,000 titles from major publishers. This approach sets LexisNexis apart in an AI landscape fraught with copyright concerns.
The company said in the news release that its long-standing relationships with publishers allow for “contextually relevant, GenAI-derived answers, with direct links to the original source material,” potentially mitigating the risk of AI hallucinations that have plagued other generative AI tools.
For publishers, the platform promises to respect intellectual property rights while ensuring fair compensation. “We’re committed to presenting content transparently and in context to preserve brand integrity,” a company statement said.
As AI technologies face scrutiny, LexisNexis is emphasizing its commitment to responsible development. The company adheres to the RELX Responsible AI Principles and employs over 2,000 technologists and data scientists to validate its solutions.
Nexis+ AI uses retrieval augmented generation (RAG) to enhance the accuracy of its AI models, drawing from thousands of trusted sources. This approach aims to address concerns about AI reliability in high-stakes business environments.
The platform’s development involved over 700 hours of customer interviews and a commercial preview program that included major financial institutions and consulting firms.
“The launch of Nexis+ AI represents a significant first milestone in our mission to provide organizations with the tools they need to accelerate company research and make informed business decisions,” said Dani McCormick, vice president of product at Nexis Solutions, in the news release.
As Nexis+ AI rolls out to a broader user base, its performance will be closely watched by both competitors and potential clients. The platform’s success could signal a new era in AI-powered business intelligence, potentially reshaping how companies approach research and decision-making.
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