Next-gen CoCounsel AI assistant marks significant milestone
in company's vision for a single GenAI assistant enabling
professionals across industries to accelerate and streamline entire
workflows.
- CoCounsel 2.0 generates answers three times faster than the
current version, operates more intuitively, and delivers more
thorough, nuanced results.
- CoCounsel 2.0 tests combining the unique capabilities and
strengths from OpenAI, Google, and Thomson Reuters such as its
industry-leading content and legal technology.
TORONTO, Aug. 12,
2024 /CNW/ -- Thomson Reuters (TSX/NYSE:
TRI), a global content and technology company, today announced
CoCounsel 2.0, the professional-grade GenAI assistant. CoCounsel
2.0 optimizes for and combines the strengths of leading LLMs,
allowing customers to realize the greatest value from this rapidly
evolving, generational technology. Functioning as an
extra team member, it draws on its robust set of specialized skills
to handle complex, multi-step work, helping professionals quickly
pinpoint key knowledge in vast databases, thoroughly communicate
sophisticated information, and complete essential work with
unprecedented speed.
A profound leap forward in GenAI assistance
CoCounsel 2.0 is the culmination of Thomson Reuters work to deliver
the experience professionals have been asking for: A single GenAI
assistant that does more than reliably complete individual tasks,
while also working more smoothly, naturally, and independently on
more of the jobs constituting complex workflows. According to
Thomson Reuters Future of Professionals report, GenAI is set to
free up 12 hours per week for professionals within the next five
years. CoCounsel 2.0 will help legal professionals make that
transformation, and the resulting competitive advantage, a
reality.
"Thomson Reuters is here for one reason: to ensure our customers
reliably and safely realize the greatest possible value from this
generational technology—as quickly as possible," said David Wong, chief product officer for Thomson
Reuters. "CoCounsel 2.0 is founded upon our ability to combine our
data, expertise, and trusted content with cutting-edge technology.
Partnering with leading LLM providers is a key part of our strategy
and will help us deliver even more for our customers, enabling them
to accomplish what they need to evolve their businesses more
quickly and more effectively than ever."
The next-gen GenAI assistant, CoCounsel 2.0, will:
- Work three times faster than the first generation of
CoCounsel, generating answers in seconds, not minutes.
- Operate more intuitively, with a better understanding of
the ways customers naturally communicate, and improved ability to
make sense of documents.
- Deliver more thorough, nuanced results, because it will
be able to consider the full context and history of more difficult,
sophisticated requests.
- Be accessible from within Thomson Reuters products,
beginning with Westlaw Precision and Practical Law.
- Be accessible from within Microsoft 365, beginning with
Word, Teams, and Outlook.
- Be able to access customer documents directly, through
server-to-server integrations with data storage solutions iManage,
NetDocuments, and SharePoint.
- Offer CoCounsel High Throughput Beta, for teams needing
to automate the review of hundreds of thousands or even millions of
documents, with human-level accuracy. This capability has been
successfully deployed on an as-needed basis and will now be
available to all CoCounsel users.
A professional-grade GenAI assistant with expanded legal
skills
CoCounsel 2.0 will also bring additional and upgraded capabilities
for legal professionals. The just-launched Claims Explorer in
Westlaw Precision with CoCounsel simplifies claims research by
enabling legal professionals to enter facts and identify applicable
claims or counterclaims. CoCounsel Drafting, the new, end-to-end
GenAI-enabled solution from Thomson Reuters, accelerates drafting
by as much as 50%.
"As a dynamic and progressive firm, we have always seen GenAI as
a key opportunity to improve the quality of service we provide to
our clients," said Adam Kerr,
managing partner at Primas Law. "After evaluating several
technologies, we found that Thomson Reuters CoCounsel offered by
far the most comprehensive solution. CoCounsel will allow our
lawyers to better deploy their expertise to enhance the client
experience. We are particularly excited about CoCounsel Drafting's
potential to transform the drafting process. The increased
efficiency and productivity we realize from CoCounsel will support
Primas Law as we continue to grow our business."
CoCounsel 2.0 will also have the capability to thoroughly
compare documents, delivering point-by-point results in an
easy-to-navigate table with citation to sources. Customers can
choose multiple documents for CoCounsel to examine and the
characteristics or types of information to compare. This new
capability is only made possible because of the next generation of
LLMs that is powering CoCounsel 2.0.
Combining the power of leading LLMs
The company uses
multiple LLMs in CoCounsel 2.0, leveraging the strengths of each
model to deliver highest accuracy and performance. To ensure the
latest GenAI advantages are available to Thomson Reuters customers,
the company evaluates every new LLM release and upgrade. In
CoCounsel 2.0, Thomson Reuters is testing adding Google Gemini 1.5
Pro to its production models suite. This updated models suite
allows CoCounsel to take advantage of a substantially longer
"context window," unlocking new capabilities, increasing processing
throughput, and improving the ability of CoCounsel to analyze
complex patterns in legal documents. Testing shows that a blend of
multiple LLMs to power CoCounsel 2.0 delivers optimal accuracy and
user experience.
CoCounsel is built on the Thomson Reuters Generative AI
Platform, a common development platform to design, build and deploy
GenAI skills. Fundamental to Thomson Reuters rapid evolution toward
being a content-driven technology company, the platform, combined
with workflow automation tools and an industry-leading team of more
than 1,000 data scientists and AI and machine learning experts.
Most importantly, these foundations mean Thomson Reuters can
deliver continual product updates, ensuring customers always have
access to the latest technology for accurately and securely solving
challenges and delivering value for their organizations and their
clients.
Thomson Reuters
Thomson Reuters (TSX/NYSE: TRI) ("TR")
informs the way forward by bringing together the trusted content
and technology that people and organizations need to make the right
decisions. The company serves professionals across legal, tax,
accounting, compliance, government, and media. Its products combine
highly specialized software and insights to empower professionals
with the data, intelligence, and solutions needed to make informed
decisions, and to help institutions in their pursuit of justice,
truth, and transparency. Reuters, part of Thomson Reuters, is a
world-leading provider of trusted journalism and news. For more
information, visit tr.com.
Contact
Ali Hughes
+1.763.326.4421
ali.hughes@thomsonreuters.com
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SOURCE Thomson Reuters
