Thomson Reuters has announced the launch of CoCounsel 2.0, a next-generation generative AI (GenAI) assistant designed to enhance workflow efficiency for professionals across multiple industries. This updated version of CoCounsel promises significant improvements in speed, intuitiveness, and the depth of generated results.
According to the company, CoCounsel 2.0 generates answers three times faster than its predecessor. Additionally, it combines the unique capabilities of OpenAI, Google Cloud AI, and Thomson Reuters' proprietary legal technology and content. This blend is designed to handle complex, multi-step tasks more efficiently, pinpoint key knowledge within vast databases, and communicate sophisticated information comprehensively.
David Wong, Chief Product Officer for Thomson Reuters, emphasised the company's commitment to leveraging cutting-edge technology for customer benefit.
"Thomson Reuters is here for one reason: to ensure our customers reliably and safely realise the greatest possible value from this generational technology as quickly as possible," he said.
"CoCounsel 2.0 is founded upon our ability to combine our data, expertise, and trusted content with cutting-edge technology. Partnering with leading LLM providers is a key part of our strategy and will help us deliver even more for our customers, enabling them to accomplish what they need to evolve their businesses more quickly and more effectively than ever."
CoCounsel 2.0 offers a suite of new capabilities, including a better understanding of customer communication methods and the ability to consider the full context and history of more complex requests. The assistant will be accessible from within Thomson Reuters' products, like Westlaw Precision and Practical Law, as well as Microsoft 365 applications such as Word, Teams, and Outlook. Additionally, it will be able to access customer documents directly via server-to-server integrations with data storage solutions like iManage, NetDocuments, and SharePoint.
One of the notable new features is "CoCounsel High Throughput Beta," which automates the review of large volumes of documents with human-level accuracy. This capability, having already been successfully deployed on an as-needed basis, will now be available to all CoCounsel users, enabling faster and more accurate document review processes.
For the legal profession, CoCounsel 2.0 brings enhanced functionalities. The newly launched "Claims Explorer" in Westlaw Precision enables legal professionals to enter facts and identify applicable claims or counterclaims more efficiently. Another feature, "CoCounsel Drafting," is designed to accelerate the drafting process by up to 50%.
Adam Kerr, Managing Partner at Primas Law, remarked on the impact of these new tools. "After evaluating several technologies, we found that Thomson Reuters CoCounsel offered by far the most comprehensive solution. CoCounsel will allow our lawyers to better deploy their expertise to enhance the client experience. We are particularly excited about CoCounsel Drafting's potential to transform the drafting process. The increased efficiency and productivity we realize from CoCounsel will support Primas Law as we continue to grow our business," he said.
CoCounsel 2.0 also introduces a document comparison feature, enabling users to compare multiple documents and receive detailed, easy-to-navigate results. This is made possible through the use of the latest generation of large language models (LLMs) which power the assistant.
The development of CoCounsel 2.0 is supported by Thomson Reuters' Generative AI Platform, a common development platform to design, build and deploy GenAI skills. This platform is integral to the company's ongoing transformation into a content-driven technology provider, backed by a team of more than 1,000 data scientists and AI/machine learning experts. This foundation allows Thomson Reuters to deliver continual product updates, ensuring that their customers always have access to the latest technological advantages.
Thomson Reuters aims to further its commitment to providing reliable, safe, and valuable technology through ongoing collaborations with leading LLM providers. The company is currently evaluating the addition of Google's Gemini 1.5 Pro to its suite of production models, which may offer longer context windows and increased processing throughput. The integration of multiple LLMs aims to optimise accuracy and overall user experience.
