TORONTO, May 21, 2024 – Thomson Reuters (TSX/NYSE: TRI)a global content and technology company, today brought the combined power of Thomson Reuters CoCounsel, the professional AI assistant with deep content expertise, to life with Microsoft Copilot, Microsoft’s AI companion.
Thomson Reuters today took a major step forward in its collaboration with Microsoft in an onstage demo during the Microsoft Build 2024 keynote of how CoCounsel, working in Microsoft 365 and using Copilot extensions, will complete complex work that previously took days in seized. and hours, in seconds, at the click of a button. Okay, where work happens.
Taking the knowledge of GenAI assistants to the next level: The power of CoCounsel and Copilot will give professionals an unparalleled AI experience. With access to organizational insights and data, combined with CoCounsel’s trusted content and powered by Copilot’s knowledge of how and where professionals work – in Microsoft Word, Microsoft SharePoint, Microsoft Outlook or Microsoft Teams – this new tool will help Thomson Reuters and the Providing shared Microsoft customers with a personalized AI experience that saves effort, reduces risk, and simplifies compliance.
Commenting, Kriti Sharma, chief product officer, LegalTech at Thomson Reuters, said: “Our customers are faced with greater complexity than ever, with high stakes and tasks that require a lot of effort. Through the power of CoCounsel combined with Microsoft Copilot for Microsoft 365, professionals will unlock 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 in the environment of Microsoft – where they enjoy the benefits of saved time and effort with less risk.”
Sharma added “Our work with Microsoft demonstrates our commitment to giving our customers choice – the choice to use people-centric tools that best suit them, including those embedded where they already work. We are also focused on bringing this technology to our products the right way – meaning as quickly as possible, while still giving our customers answers they can trust.”
Today’s demonstration represents another milestone in Thomson Reuters’ vision to provide every professional it serves with a GenAI Assistant. CoCounsel is rooted in the company’s trusted content, with legal, tax, risk, fraud and media applications. CoCounsel is an AI assistant that acts as a team member and performs complex tasks with natural language understanding.
Srini Raghavan, vice president, Microsoft Teams Ecosystem at Microsoft, added: “We are committed to expanding Microsoft Copilot to enable new features for our customers. By integrating Microsoft Copilot with Thomson Reuters’ extensive legal content and AI through CoCounsel – their innovative AI assistant – we are pleased to offer professionals the ability to seamlessly access both proprietary and public content directly within their workflow, to accelerate regulatory compliance tasks.”
CoCounsel and Copilot’s onstage demo today focused on a legal use case that showed how a busy legal firm, working with their law firm, is responding to a new regulation designed to address forced labor in supply chains. The legal, risk and compliance use case is one of many professional applications of this powerful tool that will save time and effort and reduce risk. It shows how CoCounsel, using a Copilot extension in Microsoft 365, will help solve the challenge of regulatory compliance in a fraction of the time compared to doing the work manually. This happens in Outlook, Word, Teams, SharePoint – wherever work is done – and brings insights from Thomson Reuters products to the table – without having to navigate to a separate application.
- With just one click, users ask CoCounsel and Copilot to work together to read an email and prepare recommended actions for legal, risk, and compliance teams.
- CoCounsel, using the Copilot extension, will analyze the customer’s own content in combination with Thomson Reuters’ own content and provide reliable answers.
- The work will then take place in the app that customers work with, providing work product recommendations that the user can review, review and take action on – adding insights from everyday work – such as meetings and interactions with colleagues.
- CoCounsel will bring the team together in the Microsoft 365 environment and, together with human supervision, complete work that previously took days in seconds.
This functionality is backed by the trust and privacy that customers have come to expect from both Microsoft and Thomson Reuters.
Thomson Reuters continues to deliver on its vision for a single professional AI assistant, with additional new skills and products such as CoCounsel Drafting – now on pre-sale and expected to hit the market next July. With CoCounsel Drafting, clients can easily find the best starting point to draft different types of legal content such as contracts, internal scripts, etc. and correct common drafting errors, using AI to refine and review documents to produce better quality work produce – without ever leaving Microsoft Word.
Thomson Reuters
Thomson Reuters (NYSE/TSX: TRI) (“TR”) informs the way forward by bringing together the trusted content and technology people and organizations need to make the right decisions. The company serves professionals in legal, tax, accounting, compliance, government and media. The products combine highly specialized software and insights to provide 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 a leading provider of 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 ON FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS. Certain statements in this press release are forward-looking, including but not limited to statements regarding a partnership with Microsoft CoPilot for Microsoft 365 and the company’s strategic priorities, initiatives and opportunities. The words “expect,” “believe” and similar expressions identify forward-looking statements. Although the Company believes that it has a reasonable basis for making forward-looking statements in this press release, they are not guarantees of future performance or outcomes and there can be no assurance that any of the other events disclosed in any forward-looking statement described, will also have consequences for the future. 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 effects may be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of the date of this press release. Except as required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.