Clarify the complex with GenAI from Thomson Reuters

A changing, complex world

Managing and simplifying complicated situations and problems has long been part of the work that legal, tax and accounting, and risk and fraud professionals are tasked to do. But while the world is always changing for these professionals, that complexity has become ever more challenging.

If you’re one of these professionals, you’re aware that while technology has made much of your work easier, the introduction of new technologies can also add to the complexity you need to clarify. Organizations of all kinds need to sort through virtual mountains of electronic data. Digital interactions and transactions are opening new opportunities for fraud. Changes and additions to domestic and global regulations are constant. Given the accelerating speed of change, you need to uncover insights, detect risks, and make decisions much more quickly.

All this is compelling more and more professionals to explore using tools that incorporate generative AI (GenAI) technology. Helping professionals like you bring clear thinking and insights in today’s increasingly complicated environment is the driving force behind the evolution of Thomson Reuters from a content-driven company with trusted technology solutions to an industry-leading AI technology company. We’re developing solutions designed to help you make more informed decisions, better protect your organization from fraud, reveal hidden risks and opportunities, and position your team for a successful future. In short, by clarifying the complex.

Connecting information with innovation

You may think of Thomson Reuters as an information company. Providing useful, credible information remains fundamental to what we do, but information and technology are more interwoven than ever. Technology delivers most of the information we read and analyze. The massive quantities of data make it difficult to separate actionable information from clutter and noise.

In fact, we have been developing best-in-class software and content-driven technology solutions for decades. We began developing automation-driven solutions before AI and predecessor technologies began attracting widespread attention. We also saw early on how AI could benefit professionals. Case in point: in 2006, we introduced Dexter, a machine learning-based name-identification system for researching news and legal content.

Our technology prowess is just one of our strengths. In addition, we have an extensive history as a trusted source of information and research. Because of our 152-year history and deep industry experience, professionals know they can thoroughly depend upon the information we provide.

We’re now infusing that content with continuous AI-powered innovation. By doing so, we’re helping professionals like you further reduce inefficiencies, boost productivity, add greater value to your clients or internal stakeholders, and prepare for future challenges or opportunities so you can more confidently advise your clients and organization.

For instance, we’ve invested heavily in developing search capabilities that utilize natural-language processing (NLP). Among its other capabilities, NLP lets those who don’t know exactly what they’re seeking formulate search questions in everyday language. AI-enabled search tools can rapidly deliver the best answers from whatever verbal clues the user provides.

How our GenAI clarifies the complex

Why are the AI-powered solutions Thomson Reuters is developing so crucial to professionals today? Again, the main reason is the sheer amount of data. Within this data, risks lurk that could disrupt your organization’s operations and mission. Those risks could include new regulations that your organization needs to address. It might mean signs of potential fraud. Data management, after all, is a crucial element of risk management. However, processing massive quantities of data, though necessary, is also time consuming and costly. It takes time away from work that can add more value to your organization. Here’s how GenAI from us can help you in different ways.

Tax professionals, for instance, often spend a considerable amount of time on repetitive and time-consuming activities such as data entry, invoice processing, and reconciliations. Audits have historically required a manual review of financial data, a process that’s tedious and prone to human error. AI can automate these processes, making them more efficient and accurate. AI can also help provide valuable insights into potential risks and opportunities by analyzing historical data and market trends. Moreover, AI-powered capabilities can speed up accounting professionals’ tax research and help their organizations comply with domestic and overseas regulations. In sum, a well-crafted GenAI solution can help these professionals optimize their organization’s financial performance.

The right solution can also make it easier for law firms to launch new services or expand into new markets. GenAI can free up corporate legal departments’ time to focus on supporting their organization’s strategy and growth objectives. By managing and analyzing complex digital datasets quickly and accurately, risk professionals can more effectively and efficiently identify potentially costly anomalies. That can help them conduct fraud investigations more rapidly and make recommendations to mitigate risks. In addition, AI-powered solutions can boost any organization’s cybersecurity through enhanced threat detection and real-time monitoring.

We are committed to building trusted solutions using the latest innovative technologies. Let us show you CoCounsel.

CoCounsel is a GenAI assistant that can perform sophisticated research and analyze dense, voluminous information — and then deliver reliable, accurate, and thorough answers as quickly as you need them.

We currently offer CoCounsel within our legal solutions, including Westlaw Precision and Practical Law Dynamic. Later this year, it will be available for incorporation into Checkpoint Edge and widely used third-party programs such as Microsoft 365 and various database management solutions. We will also be integrating CoCounsel into our existing and new products across all the professions we serve. Learn more about CoCounsel and its capabilities.

With GenAI rapidly transforming the legal, tax and accounting, and risk and fraud professions, you can prepare for future challenges by signing up for our monthly e-newsletter that delivers the latest insights on generative AI.

We'll continue to innovate to clarify new and increasing complexities, so you can know today and navigate tomorrow.