Source: Reuters (via feed)
Thomson Reuters is leveraging its proprietary data to advance its position in the artificial intelligence sector. The company’s AI tool, CoCounsel, has reached one million users, reflecting growing interest from legal firms in AI investments. This development comes amid rising concerns about disruption in the legal industry caused by AI technologies.
CoCounsel uses Thomson Reuters’ extensive legal datasets to assist firms in their work. The tool integrates AI to improve efficiency and accuracy in legal research and document review. However, the company emphasizes the importance of combining AI capabilities with its verified data.
Despite these advancements, firms remain cautious about AI’s broader impact on the legal profession. They seek clear returns on their AI investments. Thomson Reuters aims to address these concerns by enhancing its AI tools with proprietary data, differentiating itself from competitors relying on external sources.
The company continues to focus on developing practical AI solutions that support professionals rather than replace them. This strategy highlights the balance Thomson Reuters seeks between innovation and reliability in the evolving AI landscape.
Thomson Reuters’ use of proprietary data in AI tools underlines the importance of unique datasets in driving business adoption of emerging technologies.
