TORONTO, May 21, 2024 – Thomson Reuters (TSX/NYSE: TRI)a global content and technology company, today brought to life the combined power of Thomson Reuters CoCounsel, its deep domain professional AI assistant, and Microsoft Copilot, Microsoft’s AI companion.
In a major step forward in its collaboration with Microsoft, Thomson Reuters today presented in a demo on stage during the Microsoft Build 2024 keynote how CoCounsel can do complex work by working in Microsoft 365 and leveraging Copilot extensions that it once did lasted and hours, in seconds, at the push of a button. Everything is where the work takes place.
Take GenAI assistant expertise to the next level – the power of CoCounsel and Copilot offers professionals an unparalleled AI experience. With access to organizational insights and data, combined with CoCounsel’s trusted content and implemented with Copilot’s knowledge of how and where professionals work – in Microsoft Word, Microsoft SharePoint, Microsoft Outlook or Microsoft Teams – this new tool will Thomson Reuters and Microsoft’s shared customers deliver a personalized AI experience that saves effort, reduces risk and simplifies compliance.
Kriti Sharma, Chief Product Officer, LegalTech at Thomson Reuters, said in his comment: “Our customers are facing greater complexity than ever before, with high stakes and challenging tasks. The power of CoCounsel combined with Microsoft Copilot for Microsoft 365 enables professionals to harness the power of Thomson Reuters’ trusted content and AI, combined with their own organizational insights and data, all in a personalized and enhanced AI experience right in the Microsoft environment – and enjoy the benefits of saving time and effort with reduced risk.”
Sharma added “Our collaboration with Microsoft demonstrates our commitment to providing our customers with choice – the choice to use human-centered tools that work best for them, including those that are integrated where they already work. We’re also focused on integrating this technology into our products in the right way – that is, as quickly as possible while giving our customers answers they can trust.”
Today’s demonstration marks another milestone in Thomson Reuters’ vision to provide a GenAI assistant to every professional the company serves. CoCounsel is based on the company’s proven content and includes legal, tax, risk and fraud, and media applications. CoCounsel is an AI assistant that acts like a team member and handles complex tasks with natural language understanding.
Srini Raghavan, Vice President of the Microsoft Teams Ecosystem at Microsoft, added: “We are committed to expanding Microsoft Copilot to enable new functionality for our customers. By integrating Microsoft Copilot with Thomson Reuters’ rich legal content and AI through CoCounsel – their innovative AI assistant – we are excited to give professionals the ability to seamlessly access proprietary and public content directly in their workflow to complete tasks “Accelerating regulatory compliance.”
Today’s stage demonstration from CoCounsel and Copilot focused on a legal use case that showed how a busy attorney general’s office, in collaboration with its law firm, is responding to a new regulation to combat forced labor in supply chains. The Legal, Risk and Compliance use case is one of many professional applications of this powerful tool that saves time and effort and reduces risk. It shows how CoCounsel can help solve the challenge of regulatory compliance in a fraction of the time it would take to do manual work using a Copilot extension in Microsoft 365. This happens in Outlook, Word, Teams, SharePoint – wherever work happens – and brings insights from Thomson Reuters products – without having to navigate to a separate application.
- With just one click, users have CoCounsel and Copilot read an email together and prepare recommended actions for the legal, risk and compliance teams.
- Using its Copilot extension, CoCounsel analyzes the client’s own content combined with Thomson Reuters’ proprietary content and delivers trusted answers.
- The work then takes place in the app where customers work, providing work product recommendations that the user can review, revise and implement – incorporating insights from everyday work – such as meetings and interactions with colleagues.
- CoCounsel brings the team together in the Microsoft 365 environment and, under human supervision, completes tasks that once took days in seconds.
This functionality is underpinned by the trust and privacy that customers expect from both Microsoft and Thomson Reuters.
Thomson Reuters continues to deliver on its vision of a single professional AI assistant with additional new capabilities and products such as CoCounsel Drafting – now in pre-sale and expected to launch next July. With CoCounsel Drafting, clients can easily find the best starting point for drafting different types of legal content such as contracts, internal playbooks, etc. and correct common typographical errors by using AI to refine and review documents for better quality work – and all without ever leaving Microsoft Word.
Thomson Reuters
Thomson Reuters (NYSE / TSX: TRI) (“TR”) informs the path forward by bringing together the trusted content and technology people and organizations need to make the right decisions. The company serves professionals in the areas of law, tax, accounting, compliance, government and media. Its products combine highly specialized software and insights to provide professionals with the data, information and solutions they need to make informed decisions and to support institutions in their pursuit of justice, truth and transparency. Reuters, part of Thomson Reuters, is a global leader in trusted journalism and news. For more information, visit tr.com.
Media contact:
Lindsay Bomar – Senior Director, Media and Operations
Lindsay.bomar@thomsonreuters.com
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, SIGNIFICANT RISKS AND KEY ASSUMPTIONS. Certain statements in this press release are forward-looking, including, but not limited to, statements regarding a collaboration with Microsoft CoPilot for Microsoft 365 and the company’s strategic priorities, initiatives and opportunities. The words “expects,” “believes” and similar expressions identify forward-looking statements. Although the Company believes that it has a reasonable basis for forward-looking statements in this press release, they are not guarantees of future performance or results and there can be no guarantee that any other events described in forward-looking statements will be the case will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond our Company’s control and their impact may be difficult to predict. We caution you not to place undue reliance on forward-looking statements, which reflect only expectations as of the date of this press release. Except as required by law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.