Thomson Reuters Announces Major Investment in Generative AI and Product Enhancements

Thomson Reuters Invests Over $100 Million Annually in Generative AI, Enhances Flagship Product

Thomson Reuters, a global content and technology company, has announced a significant update to its investment strategy in generative artificial intelligence (AI). With an annual investment of more than $100 million in AI, the company is doubling down on its build, buy, and partnership strategy to drive innovation and growth.

One of the key highlights of the update is the integration of generative AI skills into its flagship product, Westlaw Precision. Customers in the United States can expect to access these new AI skills starting November 15. The new skill, Westlaw Precision AI-Assisted Research, will allow users to ask complex questions in conversational language and receive quick, synthesized answers, drawing from Thomson Reuters’ vast content database.

In addition to enhancing Westlaw Precision, Thomson Reuters is also rolling out generative AI skills in its Practical Law product, offering users a chat-type interface for submitting queries and receiving validated answers from legal experts.

The company’s investment strategy also includes strategic acquisitions to accelerate generative AI capabilities. Thomson Reuters recently completed the acquisition of Casetext, a company specializing in AI and machine learning for legal professionals. This acquisition, along with others like SurePrep for tax professionals, aims to drive greater productivity and efficiency for customers.

Furthermore, Thomson Reuters is focused on upskilling its global workforce of 26,000 employees on AI. Through training programs and technology initiatives, the company is ensuring that its colleagues are equipped to leverage AI effectively across all teams.

Overall, Thomson Reuters’ commitment to generative AI and innovation is evident in its strategic investments, product enhancements, and workforce development initiatives. With a strong focus on customer needs and industry-leading technology, the company is poised to lead the way in the evolving AI landscape.