Clarity

Mike Abbott, head of the Thomson Reuters Institute, and Steve Hasker, president and CEO of Thomson Reuters, discuss the recently released 2nd annual Thomson Reuters Future of Professionals Report on the Thomson Reuters Institute Insights podcast this week. Their conversation highlights the numerous insights from thousands of professionals surveyed across many organizations worldwide about the impact that generative artificial intelligence (GenAI) will have on their work, including time-savings, the need for responsible AI development, and the importance of human expertise and judgment in the use of GenAI.

The Thomson Reuters Institute’s 2024 Staffing Ratios Survey contained some interesting departures from long-term trends. TRI analyst Marcus Belanger joins our latest TRI Insights podcast to discuss the surprising uptick in headcount among library and knowledge management professionals within law firms, the trend toward using a higher level of professional to fill some roles (and the associated cost increases), as well as the potential outlook for law firm professional staff over the coming years.

In the latest Thomson Reuters Insights podcast, Tom Snavely, of Thomson Reuters Advisory Group, and Becky Halat, of Thomson Reuters Client Services, discuss collaboration within law firms, how it works, and how it’s a critical ingredient in firm-wide structured cross-practice key account management programs.

 Generative artificial intelligence (GenAI) is set to make a splash in the legal industry, but its introduction not only raises practice of law questions — it’s set to have a major impact on billing and pricing practices. On this week’s episode of the Thomson Reuters Institute (TRI) Insights podcast, Bill Josten and Zach Warren, both of TRI, examine GenAI’s impact on legal billing, including why we’re not seeing the impact on time sheets quite yet (but will soon), whether GenAI will finally be what kills the billable hour, and if a $1 million legal problem now takes 15 minutes to solve, where does all that value go?

The recent Q1 2024 Law Firm Financial Index Report showed promise with several positive trends for the large law firm market, putting the quarter in favorable standing compared to previous years.  Some of the fundamentals underlying that strength, however, are notably different than in years past. In our latest Thomson Reuters Institute Insights podcast, Brent Turner from Thomson Reuters Advisory Service and Bryce Engelland, an analyst with the Thomson Reuters Institute, discusses the findings in the Q1 LFFI Report and the broader context of their meaning for the market.

In the latest Thomson Reuters Institute (TRI) Insights podcast, Bryce Engelland, TRI’s legal industry data analyst, and Tom Snavely, TR principal in advisory services, sit down with Natalie Runyon, TRI’s director of environmental, social & governance (ESG) content, to discuss insights from the recent report on law firm office attendance policies and how firms are using hybrid work arrangements to attract and retain the best lawyers.

On this episode of the Thomson Reuters Institute (TRI) Insights podcast, Nadya Britton, Enterprise Content Manager for Tax, Accounting & Trade at TRI, sat down with Bianca Kuijper, Chief Operating Officer at Orbitax, to discuss the impact of Pillar 2 global minimum tax rules and how corporate tax departments will need to adopt new approaches to comply with country-by-country reporting requirements.

In the latest Thomson Reuters Institute (TRI) Insights podcast, Nadya Britton, Enterprise Content Manager for Tax & Accounting at TRI, and Bryce Engelland, a TRI Industry Analyst focused on international economics and the global legal market, engaged in a comprehensive dialogue about the dynamic nature of global trade and its effects on supply chains, highlighting the transition from a stable economy to one requiring constant adaptation by businesses. The pair also discuss the need for supply chain managers to be proactive, conduct regular risk assessments, and embrace technological advancements to safeguard against disruptions in a volatile global landscape.  

In the latest Thomson Reuters Institute Insights podcast, Natalie Runyon, strategist for environmental, social & governance (ESG) content at the Thomson Reuters Institute, speaks with Sarah E. Fortt, partner and global co-chair of the ESG Practice at Latham & Watkins, about the Securities & Exchange Commission (SEC) imposing a stay on its own climate rules amid pending litigation. In the podcast, the pair discuss the implications of the SEC’s new rules, when the pending litigation can be resolved, and what companies need to do now to navigate the rules’ uncertainty.

Generative artificial intelligence (GenAI) is here — and now, it’s on professionals in the legal, tax, government, and risk & fraud sectors to adopt it. On this week’s Thomson Reuters Institute Insights podcast, Zach Warren, manager of Tech & Innovation content for the Thomson Reuters Institute, speaks with Joel Hron, the head of Thomson Reuters Labs, — live from Stanford University’s CodeX FutureLaw conference — about the newly published Generative AI in Professional Services report, published by Thomson Reuters, and what GenAI’s future looks like from a technological perspective.