Thomson Reuters showcases the power of CoCounsel combined with Microsoft Copilot during the 2024 Microsoft Build keynote
Thomson Reuters (NYSE/TSX: TRI) and Microsoft have unveiled an enhanced AI tool, combining Thomson Reuters CoCounsel with Microsoft Copilot.
This integration, demonstrated at the Microsoft Build 2024 keynote, aims to streamline complex tasks across various Microsoft 365 applications such as Word, Outlook, SharePoint, and Teams. By leveraging CoCounsel's subject-matter expertise with Copilot's operational insights, the tool promises to save time, reduce risk, and simplify compliance tasks.
Kriti Sharma, Chief Product Officer at Thomson Reuters, highlighted the tool's potential to handle high-stakes tasks more efficiently. The collaboration marks another step in Thomson Reuters' goal to provide a GenAI Assistant for every professional it serves. The tool will be available in July 2024.
- Thomson Reuters CoCounsel integrated with Microsoft Copilot showcased at Microsoft Build 2024 keynote.
- Integration promises to complete complex tasks in seconds, enhancing productivity.
- Tool designed to streamline work across Word, Outlook, SharePoint, and Teams.
- Potential to save time, reduce risk, and simplify compliance for professionals.
- Thomson Reuters aims to provide every professional with a GenAI Assistant.
- Positive reception from Kriti Sharma and Srini Raghavan, indicating strong internal and partner support.
- CoCounsel Drafting, an additional product, expected to launch in July 2024.
- Tool leverages both proprietary and organizational content for trusted answers and recommendations.
- No specific financial data or projections provided, leaving potential impact on revenue unclear.
- The success of the tool heavily depends on user adoption and integration within existing workflows.
- High expectations may lead to potential dissatisfaction if the tool does not perform as promised.
- The launch of CoCounsel Drafting in July 2024 indicates that full functionality is not yet available.
Thomson Reuters CoCounsel and Microsoft Copilot for Microsoft 365 will provide professionals with an improved AI experience - taking GenAI assistant know-how to the next level.
As previewed at the Microsoft Build 2024 Keynote – watch here
In a major leap forward in its collaboration with Microsoft, Thomson Reuters today showcased, in an on-stage demo during the Microsoft Build 2024 keynote, how CoCounsel, working in Microsoft 365 and leveraging Copilot extensions, will complete complex work that used to take days and hours, in seconds, at a click of a button. All right where work happens.
Taking GenAI assistant know-how to the next level – the power of CoCounsel and Copilot will provide professionals with an unparalleled AI experience. With access to organizational insights and data, combined with CoCounsel's trusted content, and actioned with Copilot's knowledge of how and where professionals work – in Microsoft Word, Microsoft SharePoint, Microsoft Outlook or Microsoft Teams – this new tool will provide Thomson Reuters and Microsoft's shared 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 facing greater than ever complexity, with high stakes and high-effort tasks. 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 elevated AI experience right in Microsoft's environment - enjoying the benefits of saved time and effort with reduced risk."
Sharma added "Our work with Microsoft demonstrates our commitment to offering our customers choice – the choice to use human-centric tools which suit them best, including those embedded where they already work. We are also focused on bringing this technology to our products in the right way – which means 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 applications across legal, tax, risk & fraud and media. CoCounsel is an AI assistant that acts like a team member – handling complex tasks with natural language understanding.
Srini Raghavan, vice president, Microsoft Teams Ecosystem at Microsoft added, "We are committed to extending Microsoft Copilot to enable new functionalities 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 give professionals the ability to seamlessly access both proprietary and public content directly within their workflow to expedite regulatory compliance tasks."
The on-stage demo of CoCounsel and Copilot today focused on a legal use case showcasing how a busy general counsel's office, collaborating with their law firm, responds to a new regulation designed to tackle 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, leveraging a Copilot extension in Microsoft 365, will help solve for 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 happens – and brings insights from Thomson Reuters products - with no need to navigate to a separate application.
- With just one click, users prompt CoCounsel and Copilot to work together to read an email and prepare recommended actions across legal, risk and compliance teams.
- CoCounsel, leveraging its Copilot extension, will analyse the customer's own content combined with Thomson Reuters proprietary content and provide trusted answers.
- Work will then happen in the app customers are working within, making work product recommendations for the user to review, revise and action – infusing insights from everyday work - such as meetings and colleague interactions.
- CoCounsel will bring the team together in the Microsoft 365 environment and, along with human oversight, complete work that used to take days, in seconds.
This functionality is underpinned by the trust and privacy customers have come to expect from both Microsoft and Thomson Reuters.
Thomson Reuters continues to deliver on its vision for a single professional-grade AI assistant, with additional new skills and products such as CoCounsel Drafting – now in presale and expected to hit the market this coming July. With CoCounsel Drafting, customers can easily find the best starting point to draft various types of legal content, such as contracts, internal playbooks, etc. and correct common writing errors, by using AI to refine and review documents to produce better quality work - 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 that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower 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 world 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 REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS. Certain statements in this news 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 "expect", "believe" and similar expressions identify forward-looking statements. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement 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 the effects of them can 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 news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.
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SOURCE Thomson Reuters
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