According to a new press release, Thomson Reuters has unveiled a comprehensive generative AI strategy to revolutionize the professional landscape. The global content and technology company is committing over $100 million annually to generative AI, aiming to integrate AI skills into its products and upskill its 26,000-strong global workforce. The company plans to leverage a mix of building, acquiring, and partnering strategies, building on its recent acquisition of Casetext for $650 million. This approach will accelerate the deployment of generative AI capabilities, blending trusted content with innovative workflows.
As part of this initiative, Thomson Reuters is enhancing its flagship product, Westlaw Precision, with a new generative AI skill called Westlaw Precision AI-Assisted Research. This skill allows customers to ask complex questions in conversational language and receive quick synthesized answers by drawing from Thomson Reuters’ extensive legal content. The company is also introducing generative AI skills for its Practical Law customers through a chat-type interface, enabling them to submit queries in conversational language and receive validated answers.
Thomson Reuters is expanding its generative AI capabilities through strategic acquisitions, such as Casetext and SurePrep, to boost productivity and efficiency for legal and tax professionals. Additionally, the company is partnering with innovative AI-driven ventures like Neo.Tax and Truewind to automate various aspects of business operations. Thomson Reuters is also collaborating with Microsoft to develop a contract drafting solution for Microsoft 365 Copilot for Word, allowing professionals to access Thomson Reuters’ legal content and AI technology within Microsoft Word for faster document drafting and editing.
To ensure that its global workforce is equipped to work with AI effectively and ethically, Thomson Reuters is investing in learning and development programs. These programs include AI learning pathways tailored for different teams and colleagues, creating a safe and effective environment for understanding and applying AI technology. Additionally, Thomson Reuters Labs has introduced Open Arena, an enterprise-wide large language model (LLM) learning environment, promoting company-wide experimentation with generative AI. Overall, Thomson Reuters aims to lead the way in harnessing AI to empower professionals across various industries.
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