Thomson Reuters plugin with Microsoft 365
Copilot helps unlock the value of generative AI for legal
professionals
TORONTO, May 23, 2023
/CNW/ -- Thomson Reuters (TSX/NYSE: TRI), a global content
and technology company, today brings forward its vision to redefine
the future of professionals through generative artificial
intelligence (AI). At a time of rapid global innovation, Thomson
Reuters is at the forefront, helping its customers unlock the
potential to automate workflows, provide powerful insights, and
drive efficiencies with content-driven AI technology.
Following Thomson Reuters announcement that it intends to invest
more than $100 million annually on AI
capabilities at its Q1 FY23 results, the company also today
announces a new plugin with Microsoft 365 Copilot, Microsoft's
advanced AI experiences across its productivity suite. This
integration will bolster efforts for redefined professional work
starting with legal research, drafting, and client
collaboration.
"Generative AI empowers professionals to redefine their work
and discover innovative approaches," said Steve Hasker, president and CEO, Thomson
Reuters. "With our customers in the driver's seat, Thomson
Reuters AI technology augments knowledge, helping professionals
work smarter, giving them time back to focus on what matters. We
are very proud to partner with Microsoft, leading the legal
profession towards unlocking the value from Microsoft 365 Copilot
for our customers, and their clients."
Redefining work with Generative AI
Today's announcements further cements Thomson Reuters as a
leader in leveraging new technologies, including AI and machine
learning (ML). For over 30 years Thomson Reuters has
leveraged increasingly sophisticated AI and ML capabilities to
improve search and expand advanced analytics for its customers. In
addition to integrating Microsoft 365 Copilot, Thomson Reuters
today shares plans to incorporate new generative AI capabilities
across its product suite including:
- Westlaw Precision - With generative AI, customers can
find answers to complex legal questions in seconds, based on
proprietary, expert content.
- Practical Law - Smarter, faster access to the expertise
of more than 650 attorney editors combined with the power of
generative AI.
- Checkpoint Edge - Providing fast, reliable answers to
complex tax and accounting questions.
- Legal Document Review and Summary - With generative AI
reading through hundreds or even thousands of relevant documents in
just seconds, customers can spot key risks, resolve questions,
execute tasks, and generate powerful work product. Powered by
HighQ, Practical Law, and Document Intelligence.
- Legal Drafting - Bringing together Thomson Reuters
trusted content and intelligence from across Westlaw, Practical
Law, and Document Intelligence to surface key insights, legal
knowledge, and answers to complex questions.
Find out more here.
Thomson Reuters plugin with Microsoft 365
Copilot
Working with Microsoft, Thomson Reuters has developed a contract
drafting solution, powered by its legal products and content, and
Copilot for Word. Delivering users with a draft working document
and access to trusted content right where work happens – in
Microsoft Word, professionals can use their expertise to edit,
validate, and build the final document with integrated access to
Thomson Reuters knowledge, content, and AI technology.
A demonstration of the integration between Thomson Reuters Legal
Drafting, powered by its legal products and content, and Microsoft
365 Copilot for Word will be shown during this week's Microsoft
Build event in Seattle. In the
demo, Copilot creates a draft contract with help from a
Thomson Reuters plugin that surfaces intelligence and content from
Westlaw, Practical Law, and Document Intelligence - delivering in
minutes work that used to take hours directly into Microsoft
Word.
"Microsoft 365 Copilot is reinventing productivity for people
and organizations, and we are thrilled to collaborate with Thomson
Reuters to extend Copilot with new AI-powered experiences that will
support legal professionals by saving them time and helping them
drive value for the clients and businesses they serve," said
Andrew Lindsay, Corporate Vice
President of Industry, Apps & Data, Business Development at
Microsoft.
Watch the demonstration here
Investing in Trust
Investing more than $100 million
annually, Thomson Reuters is focused on integrating generative AI
into its solutions through a build, buy and partnership strategy –
providing customers with the very best and trusted solutions at
speed.
Hasker adds, "At Thomson Reuters we remain committed to
augmenting professional knowledge and workflows with AI. Continuing
to support our customers on this journey will enable them to first
trust and then harness this new technology as we build on the
opportunities ahead in Legal, with solutions for Tax, Risk, and the
News profession to follow."
Thomson Reuters has recently shared its updated AI and Data
Principles, reflecting the rapid innovation and reinforcing its
strong commitment to building trustworthy, practical, and
beneficial AI for customers. The update reflects recognition of the
evolving AI technology landscape and the need to demonstrate its
commitment to unlocking AI in secure, transparent, and accountable
ways.
Product availability
- Thomson Reuters will be releasing generative AI capabilities
into its native platforms Westlaw, Practical Law and Drafting in
the second half of 2023.
- Legal drafting, integrated with Copilot for Microsoft 365 will
be available for legal professionals in beta alongside the
Microsoft Copilot release schedule.
- Tax and Compliance, Risk and Fraud generative AI solutions to
follow in 2024.
For more information please click here
About Thomson Reuters
Thomson Reuters (NYSE / TSX: 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 the world's
leading provider of trusted journalism and news. For more
information, visit tr.com.
CONTACT
MEDIA
Julia Commons
Vice President, Product and Customer Communications
julia.commons@tr.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/thomson-reuters-brings-forward-vision-to-redefine-the-future-of-professionals-with-content-driven-ai-technology-301832338.html
SOURCE Thomson Reuters