Aug 12, 2024 | AI

Thomson Reuters today announced CoCounsel 2.0, the professional-grade GenAI assistant, will optimize for and combine the strengths of leading LLMs, allowing customers to realize the greatest value from this rapidly evolving technology. The next-gen CoCounsel AI assistant marks a significant milestone in the Thomson Reuters vision for a single GenAI assistant, enabling professionals across industries to accelerate and streamline entire workflows.

CoCounsel 2.0 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. CoCounsel 2.0 generates answers three times faster than the current version, operates more intuitively, and delivers more thorough, nuanced results.

It also tests combining the unique capabilities and strengths from OpenAI, Google, and Thomson Reuters, such as its industry-leading content and legal technology.  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 end-to-end GenAI-enabled solution from Thomson Reuters, accelerates drafting by as much as 50%.

“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, 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.”

Wong will discuss CoCounsel 2.0 with Jake Heller, head of Product for CoCounsel, Thomson Reuters, and Kriti Sharma, chief product officer of Legaltech, Thomson Reuters, in their ILTACON session, “Maximizing Impact and ROI: Harnessing the Full Potential of GenAI in the Legal Profession.”

“CoCounsel 2.0 is more powerful than the first generation of CoCounsel and accessible from within Thomson Reuters products – beginning with Westlaw Precision and Practical Law – plus from within Microsoft 365, beginning with Word, Teams, and Outlook. It’s exactly what our legal customers are looking for,” Sharma said. “Debuting CoCounsel 2.0 at ILTACON is the perfect fit, as it’s all about realizing successful legal strategies for transforming the legal industry. I’m thrilled for the opportunity to share our powerful CoCounsel 2.0 vision and discuss how legal professionals can embrace professional-grade GenAI to streamline their workflows and boost productivity while maximizing ROI.”

“We’ve always been on the leading edge of emerging technology and it’s incredibly fulfilling to experience our vision – of providing every professional we serve with a GenAI assistant – becoming reality for our customers,” Heller said. “We’re seeing a growing maturity in the adoption of AI, and legal professionals are ready for the practical application and optimization of GenAI. CoCounsel 2.0 enables them to use GenAI to its fullest potential to drive efficiencies and productivity gains – working with the tools they already use every day.”

For more on CoCounsel 2.0, read the press release. Check out more Innovation Blog posts for product news, leader insights, and customer perspectives on how Thomson Reuters is paving the way for the future of professionals.