Thomson Reuters' AI strategy in legal research, discussing generative AI's impact. Acquisitions, integration in Westlaw Precision, and Practical Law. Executives talk about AI development, protecting against hallucinations, ensuring security, and the future of AI at Thomson Reuters.
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Quick takeaways
Thomson Reuters integrates generative AI into legal research platforms for enhanced efficiency and synthesized answers.
Acquisition of CaseText and CoCounsel by Thomson Reuters emphasizes the strategic importance of AI assistants in legal research workflows.
Thomson Reuters addresses potential risks of generative AI, implementing security measures to safeguard against hallucinations and ensure accuracy.
Deep dives
Thomson Reuters' Approach to AI in Legal Research
Thomson Reuters discusses the application of generative artificial intelligence in legal research. By integrating generative AI into their legal research platform, they aim to provide users with synthesized answers from cases, statutes, and regulations to enhance understanding and efficiency in research.
Co-Counsel Development and Integration with Thomson Reuters Products
The podcast delves into the strategic acquisition of CaseText by Thomson Reuters, emphasizing the significance of integrating co-counsel, a legal AI assistant developed in collaboration with OpenAI. Co-counsel functions as an AI assistant umbrella encompassing various generative AI skills, enhancing legal research and workflow across Thomson Reuters' products.
Guardrails for Protecting Confidential Client Information
The conversation addresses concerns regarding generative AI's potential risks, such as hallucinations and accuracy issues. Thomson Reuters implements rigorous security measures to safeguard against hallucinations and ensure the accuracy of AI results. They emphasize the importance of retaining control over AI decisions and maintaining transparency in the process.
Future of Generative AI in Legal Profession
The dialogue explores the future of generative AI technology in the legal profession, highlighting its transformative potential. The guests envision widespread adoption of AI assistants in legal workflows, empowering lawyers to achieve enhanced research capabilities and efficiency. They anticipate continued advancements in AI technology to streamline legal processes and increase access to justice.
Thomson Reuters' Collaborations and Unbiased AI Utilization
Thomson Reuters discusses its collaborations with OpenAI, Microsoft Azure, and AWS in leveraging generative AI technology. Emphasizing an unbiased approach to AI utilization, the company explores various language models and open-source community contributions to enhance AI capabilities for legal research and beyond.
Customer Empowerment and Access to Quality Legal Information
In recognizing AI's dual impact on legal workflows and societal access to justice, Thomson Reuters focuses on empowering customers with advanced legal research capabilities. By facilitating easier access to high-quality legal information and enhancing affordability, the company aims to broaden access to justice and drive positive societal outcomes.
On this episode of LawNext: A conversation about Thomson Reuters’ strategy around generative artificial intelligence with two of the executives most directly responsible for its development and implementation.
In a year dominated by discussion of generative AI and its potential impact on the legal profession, Thomson Reuters has played a leading role. It started in June, when the company announced its $650 million acquisition of the legal research and AI company Casetext and the CoCounsel generative AI tool Casetext had developed in collaboration with OpenAI.
Then, in November, Thomson Reuters made good on its promise to integrate generative AI within its flagship legal research platform, introducing AI Assisted Research in Westlaw Precision. Soon after that, it rolled out generative AI within Practical Law, its legal know-how product.
What does this all mean for legal research and legal software, now and into the future? Today we go deep into TR’s AI development with two of the company’s leaders in this area:
Mike Dahn, senior vice president and head of Westlaw product management.
Joel Hron, head of artificial intelligence and TR Labs.
We talk about the development of AI Assisted Research in Westlaw Precision, the company’s broader AI product strategy, its acquisition of CoCounsel and where that fits in its AI strategy, how the company is protecting against hallucinations and ensuring security, and the future of AI at Thomson Reuters and more broadly.
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