artificial intelligence Archives - Thomson Reuters Institute https://blogs.thomsonreuters.com/en-us/innovation-topics/artificial-intelligence/ Thomson Reuters Institute is a blog from 抖阴成年, the intelligence, technology and human expertise you need to find trusted answers. Wed, 26 Nov 2025 16:49:47 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 Lawson Lundell Adopts 抖阴成年 CoCounsel to Deliver Enhanced Client Value and Empower Next-Generation Legal Talent /en-us/posts/innovation/lawson-lundell-adopts-thomson-reuters-cocounsel-to-deliver-enhanced-client-value-and-empower-next-generation-legal-talent/ Tue, 25 Nov 2025 09:00:30 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=68568 As artificial intelligence transforms the legal landscape, Lawson Lundell LLP is positioning itself at the forefront of innovation by adopting 抖阴成年 CoCounsel firmwide. The decision reflects the firm’s commitment to equipping its legal professionals with best-in-class tools while meeting evolving client expectations in an AI-driven era.

Lawson Lundell, British Columbia’s largest law firm, with over 230 lawyers across four offices in Vancouver, Calgary, Kelowna, and Yellowknife, specializes in business law with deep expertise in corporate matters, real estate, labor and employment, and business litigation. As the firm continued to grow and attract top talent, leadership recognized that staying competitive meant embracing AI not just as an experiment, but as a strategic imperative.

“It’s about attracting and retaining the best and brightest lawyers, especially the next generation, and making sure we have the best tools to equip them from day one.鈥 听said Clifford Proudfoot, KC, Managing Partner, Lawson Lundell. 鈥淏ut ultimately, it’s about our clients.”

“We’re already seeing expectations for AI use in many of our client agreements” said Derrick Li, COO and CFO, Lawson Lundell.

After piloting multiple AI solutions, Lawson Lundell selected 抖阴成年 for its unique combination of Westlaw鈥檚 authoritative legal content, enterprise-grade security, and seamless integration of the content and AI workflow capabilities. The decision was also influenced by the fact that 80% of the Am Law 100 choose 抖阴成年, as well as their strong Canadian presence and consistent relationship management.

“There’s significant resources required from an R&D perspective to stay ahead in AI,” Li explained. “In the race to dominate Legal AI, I would bet my money on 抖阴成年.”

CoCounsel’s ability to support research, drafting, and document analysis within a unified, intuitive platform allows Lawson Lundell to reduce tool sprawl while maintaining the high standards of accuracy and reliability the firm’s clients expect. With guided onboarding, best-practice templates, and enterprise governance built in, the firm is well-positioned for rapid, responsible adoption across all practice areas.

“I almost feel like a kid at a toy store,” Li said. “I’m most excited about equipping every single articling student, paralegal, and lawyer with AI solutions. This will be the first group that will have AI from day one, and it will be fascinating to see how that changes how lawyers approach client solutions.”

Lawson Lundell plans to roll out CoCounsel firmwide alongside its own internally developed AI tools, creating a comprehensive AI ecosystem designed to serve both legal professionals and support staff. The firm has established an AI committee and pilot groups to ensure thoughtful implementation and maximize value realization.

 

Version fran莽aise

Lawson Lundell choisi CoCounsel de 抖阴成年 pour offrir une valeur client am茅lior茅e et renforcer la nouvelle g茅n茅ration de professionnels juridiques

 

Alors que l’intelligence artificielle (IA) transforme le paysage juridique, Lawson Lundell LLP se positionne 脿 l’avant-garde de l’innovation en int茅grant 听CoCounsel de 抖阴成年 脿 l’茅chelle de l’entreprise. Cette d茅cision refl猫te l’engagement du cabinet 脿 茅quiper ses professionnels du droit avec des outils de premier ordre tout en r茅pondant aux attentes 茅volu茅es des clients dans une 猫re ax茅e sur l’IA.

Lawson Lundell, le plus grand cabinet d’avocats de Colombie-Britannique, avec plus de 230 avocats r茅partis dans quatre bureaux 脿 Vancouver, Calgary, Kelowna et Yellowknife, se sp茅cialise dans le droit des affaires avec une expertise approfondie en mati猫re d’entreprise, d’immobilier, de droit du travail,听 et de litiges commerciaux. Alors que le cabinet continue de cro卯tre et d’attirer les meilleurs professionnels, la direction a reconnu que rester comp茅titif signifiait adopter l’IA non seulement comme une exp茅rience, mais comme une n茅cessit茅 strat茅gique.

芦 Il s’agit d’attirer et de retenir les meilleurs et les plus brillants avocats, en particulier la prochaine g茅n茅ration, et de s’assurer que nous avons les meilleurs outils pour les 茅quiper d猫s le premier jour 禄, a d茅clar茅 Clifford Proudfoot, KC, associ茅 directeur de Lawson Lundell. 芦 Mais en fin de compte, il s’agit de nos clients. 禄

芦 Nous voyons d茅j脿 des attentes pour l’utilisation de l’IA dans bon nombre de nos accords clients 禄, a d茅clar茅 Derrick Li, COO et CFO de Lawson Lundell.

Apr猫s avoir test茅 plusieurs solutions d’IA, Lawson Lundell a choisi 抖阴成年 pour sa combinaison unique de contenu juridique autoritaire de Westlaw, de s茅curit茅 de niveau entreprise et d’int茅gration transparente des capacit茅s de contenu et de flux de travail d’IA. La d茅cision a 茅galement 茅t茅 influenc茅e par le fait que 80 % des Am Law 100 choisissent 抖阴成年, ainsi que par leur forte pr茅sence canadienne et leur gestion coh茅rente des relations apr猫s vente.

芦 Il faut des ressources importantes du point de vue de la R&D pour rester en t锚te dans l’IA 禄, a expliqu茅 Li. 芦 Dans la course pour dominer l’IA juridique, je parierais sur 抖阴成年. 禄

La capacit茅 de CoCounsel听 脿 soutenir la recherche, la r茅daction et l’analyse de documents au sein d’une plateforme unifi茅e et intuitive permet 脿 Lawson Lundell de r茅duire la prolif茅ration des outils tout en maintenant les normes 茅lev茅es de pr茅cision et de fiabilit茅 attendues par les clients du cabinet. Avec une int茅gration guid茅e, des mod猫les de meilleures pratiques et une gouvernance d’entreprise int茅gr茅e, le cabinet est bien positionn茅 pour une adoption rapide et responsable dans tous les domaines de pratique.

芦 Je me sens presque comme un enfant dans un magasin de jouets 禄, a d茅clar茅 Li. 听听听听芦 Je suis le plus enthousiaste 脿 l’id茅e d’茅quiper chaque 茅tudiant stagiaire, parajuriste et avocat avec des solutions d’IA. Ce sera le premier groupe 脿 avoir l’IA d猫s le premier jour, et il sera fascinant de voir comment cela change la fa莽on dont les avocats abordent les solutions pour les clients. 禄

Lawson Lundell pr茅voit d茅ployer CoCounsel 脿 l’茅chelle de l’entreprise aux c么t茅s de ses propres outils d’IA d茅velopp茅s 脿 l鈥檌nterne, cr茅ant un 茅cosyst猫me d’IA complet con莽u pour servir 脿 la fois les professionnels du droit et le personnel de soutien. Le cabinet a 茅tabli un comit茅 d’IA et des groupes pilotes pour garantir une mise en 艙uvre r茅fl茅chie et maximiser leur investissement.

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McCarthy T茅trault: Elevating Client Service with AI-Powered Technology /en-us/posts/innovation/mccarthy-tetrault-elevating-client-service-with-ai-powered-technology/ Thu, 06 Nov 2025 09:00:59 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=68368 The legal profession is rapidly moving from experimentation to scale with generative AI. In this context, McCarthy T茅trault continues to lead in client service excellence by integrating 抖阴成年 CoCounsel and its cutting-edge technology to amplify impact and elevate delivery.

Like many leading firms operating at scale, McCarthy T茅trault faced a proliferation of point solutions and duplicative tools, creating friction as matters moved through their workflows. The firm sought to deliver confident answers more quickly 鈥 without sacrificing accuracy or reliability 鈥 while elevating the baseline quality of drafting and accelerating analysis of extensive case files. Streamlining workflows and reducing fragmentation were central goals, alongside ensuring any solution could be adopted responsibly and securely across the enterprise.

With CoCounsel, the firm saw an opportunity to maximize value for their clients. Building on a long-standing relationship, McCarthy T茅trault selected 抖阴成年 for its unique ability to combine over 225 years of trusted legal expertise with modern generative AI鈥攄elivering reliable, comprehensive outputs. By bringing research, drafting and document analysis into a cohesive end鈥憈o鈥慹nd experience, CoCounsel helps reduce tool sprawl while supporting consistent, repeatable outcomes.

CoCounsel, the leading professional-grade legal AI assistant, is grounded in 抖阴成年 authoritative legal content and built with enterprise鈥慻rade security, governance and quality controls to support responsible, firmwide adoption. Just as important, CoCounsel offers fast time鈥憈o鈥憊alue: intuitive prompts, best鈥憄ractice templates, and guided onboarding to help teams ramp up quickly and realize measurable impact.

“At McCarthy T茅trault, our commitment to being at the leading-edge of innovation is driven by our dedication to providing unparalleled service to our clients. By integrating CoCounsel, we are not just adopting cutting-edge technology鈥攚e鈥檙e transforming how legal work gets done,” said Matthew Peters, Partner and National Leader, Transformation of McCarthy T茅trault. “By harnessing the possibilities of AI and our partnership with 抖阴成年, we will continue to build upon the exceptional legal counsel we provide to address the complex challenges our clients face. We are thrilled to empower our legal professionals to focus more on high-value, creative and strategic work that amplifies the impact of their expertise.鈥

is a Canadian-based law firm with more than 800 lawyers delivering integrated business, litigation, tax, real property, and labor and employment law services to Canadian and international clients. To learn more about how CoCounsel helps leading firms navigate this transformative era, visit .

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CoCounsel Legal Monthly Insider /en-us/posts/innovation/cocounsel-legal-monthly-insider-nov-2025/ Wed, 05 Nov 2025 09:01:37 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=68237 Legal tech is moving fast, and we’re moving with it. Our roadmap for CoCounsel Legal is built around four core areas that we know matter most to the way our customers actually work: “Built for How You Work,” “Agentic AI Grounded in Expertise,” “Rooted in Your Knowledge,” and “Global, Connected Platform.” The goal is simple 鈥 make our customers’ days easier, their decisions faster, and give them the kind of tools that actually fit into their workflow.

At the conference, we are unveiling new beta features for CoCounsel Legal that tackle document review and agentic execution in a much more powerful way. Over the coming months, these new features will expand CoCounsel Legal鈥檚 capability to handle the broadest range of legal work with even more precision. We’ve also released several drafting improvements and announced a new partnership to seamlessly bring our trusted, authoritative content together with a law firm鈥檚 proprietary work product.

Built for How You Work

Focusing on speed, security, and collaboration, we’re making CoCounsel Legal faster, more intuitive, and more collaborative 鈥 all while maintaining the professional-grade trust and compliance our customers require.

Bulk Document Review (beta)

The beta release of CoCounsel Legal’s bulk document review redefines the approach to high-volume document analysis. Designed to tackle one of legal practice’s most resource-intensive challenges, this powerful solution will empower legal professionals to ingest vast document sets and receive intelligently structured, sortable results in an intuitive table format.

This capability will overhaul traditional review cycles, moving beyond the limitations of manual methods by enabling the efficient analysis of up to 10,000 documents in a fraction of the time. This can directly reduce the number of write-offs firms take when reviewing documents 鈥 an area that often impacts profitability per attorney.听听 CoCounsel Legal鈥檚 structured analysis provides immediate access to critical data, allowing for rapid filtering and sorting to pinpoint key information across a spectrum of vital workflows: from optimizing litigation discovery and streamlining M&A due diligence to enhancing regulatory compliance reviews and accelerating contract analysis.

Upload documents for bulk review

Agentic AI, Grounded in Expertise

Leveraging an unmatched foundation of expertise and authoritative content from Westlaw and Practical Law, CoCounsel uses advanced AI to plan and execute complex, multi-step legal workflows.

Independent Execution of Legal Tasks (beta)

CoCounsel Legal will independently plan and execute complex, multistep legal workflows. With a single natural language prompt, legal professionals can trigger sophisticated workflows 鈥 whether conducting legal analysis, drafting documents, or researching case law. The platform intelligently interprets each request, maps the optimal execution strategy, and completes the entire workflow by integrating 抖阴成年 authoritative Westlaw and Practical Law content with the law firm’s proprietary knowledge base. The result? Less time managing tasks, more time delivering strategic counsel.

Execute multistep legal workflow

Custom Workflows (beta)

CoCounsel Legal’s workflow builder lets legal professionals design, save, and share custom workflows that combine 抖阴成年’ trusted content with their firm’s own expertise. It’s a straightforward way to build repeatable processes that capture institutional knowledge and scale best practices across the entire firm鈥攎aking everyone more efficient and consistent in how they work.

Save a custom workflow

Deep Research on Westlaw 鈥 Expanded coverage, enhanced precision

Deep Research now covers state administrative materials in addition to federal sources, giving customers a more complete view of the regulatory landscape. Customers also get timely, curated updates on case law, regulatory changes, and practice developments from JD Supra, Quinlan, and Westlaw Daily Briefings. Plus, the new Clarifying Questions feature asks for additional details when it spots gaps, then reruns the analysis to make each report more precise and tailored to what customers actually need.

Identifying Citation Issues

CoCounsel’s Identifying Citation Issues feature allows users to upload a brief or memo and get an instant review for inaccurate or missing citations eliminating tedious, line by line checks. CoCounsel flags potential errors and presents a clear side by side table showing the original cite and the issue detected, allowing the ability to fix problems fast. Every check is validated against the trusted authority of Westlaw, delivering confidence that the cited sources are accurate before filing. The result: tighter documents, fewer surprises, and more time for the substance of the argument.

Identify citation issues

AI Overview for Statutes Compare

Comparing statute versions just got easier. With AI Overview in Statutes Compare, users can click once to get a clear, plain language summary of what changed materially between two versions 鈥 so less time is spent wading through long sections and cosmetic edits, and more time spent understanding the impact. It filters out formatting and nonsubstantive tweaks to spotlight the revisions that matter for analysis, improving efficiency, reducing the risk of missing a key change, and briefing clients or colleagues with confidence.

Find Practical Law Drafting Language

Find Practical Law drafting language is a new skill available to quickly find the drafting language needed by simply entering in a prompt for specific clauses or to fit certain scenarios, such as 鈥渇ind me drafting language where party A resides in a different state but agrees to this state鈥檚 forum.鈥 This AI-powered search capability eliminates the need to navigate complex taxonomies or remember exact clause titles, reducing drafting time while maintaining the rigor and reliability users trust and expect from Practical Law.

Practical Law Search & Summarize in Word

Designed to deepen the Practical Law integration within Word, this feature, coming soon, lets legal professionals ask how-to questions and get summarized, synthesized answers pulled from Practical Law’s full collection of practice notes, checklists, and standard documents. Responses include citations to source materials, making it easy to verify information or dig deeper.

Update Contract Terms

CoCounsel can now handle the tedious work of updating contract terms. Upload a term sheet, and it populates your template or precedent agreement with tracked changes and annotations showing what was revised. It’s a straightforward time-saver that reduces manual data entry errors and frees up legal professionals to focus on higher-level work

Rooted in Your Knowledge

By integrating with document management systems, precedents, and templates, CoCounsel Legal delivers insights that draw from both a firm’s institutional knowledge and 抖阴成年 authoritative sources

NetDocuments and the ndConnect Program

A with NetDocuments delivers another advantage for legal professionals. With the introduction of ndConnect, NetDocuments鈥 new interoperability program, legal professionals can securely incorporate AI capabilities from CoCounsel Legal into their document management workflows. Users can now conduct legal research with Westlaw and Practical Law, draft documents based on both their own internal content and that of 抖阴成年, and analyze documents with advanced review capabilities 鈥 all while maintaining their documents鈥 integrity and metadata within NetDocuments.

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CoCounsel Monthly Insider: Sharpening Your Competitive Edge /en-us/posts/innovation/cocounsel-monthly-insider-sharpening-your-competitive-edge/ Wed, 17 Sep 2025 20:22:59 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=67579 Driven by our commitment to our customers, each month, 抖阴成年 is delivering enhancements to CoCounsel Legal and additional solutions, making them more intuitive, customizable, and effortless to use. In this September edition, we spotlight the latest updates, featuring major upgrades and subtle refinements, designed to boost efficiency and support the delivery of exceptional, high-quality work.

Redesigned drafting capabilities unify CoCounsel tools, content, expertise, and workflows

Informed by customer feedback, we’ve reimagined the legal drafting experience 鈥 making it more intuitive, intelligent, and seamlessly integrated. The drafting capabilities in CoCounsel fuse users鈥 institutional knowledge with trusted 抖阴成年 content and AI-powered technology to expedite the legal drafting process. The redesigned homepage puts everything users need right at their fingertips 鈥 CoCounsel Chat, skills, and powerful litigation and document analysis tools 鈥 all in one clean, intuitive space. Eliminating the need to jump between tabs or hunt for resources, it鈥檚 now an even smoother, faster experience that lets users stay focused, work smarter, and get more done with less friction.

Drafting homepage

 

Live Draft brings the ability to summarize and modify a document using natural language in Word. Live Draft also delivers contextual awareness of the document and understanding of the content and structure, so every suggestion and edit is tailored to the content. This helps to further reduce time spent producing a final draft, by delivering more accurate, relevant suggested changes.

Live Draft

 

Append Authorities enables users to combine all cited documents into a single file suitable for court use, reducing the risk of errors and increasing efficiency. Every cited document is linked for verification purposes, and a hyperlinked table of contents is included.

Append Authorities

 

Region settings customizes CoCounsel tools for global legal professionals

The new region settings capability enables users to select their geographic preference from U.S., UK, Australia or Canada. Based on the selected region, region settings will automatically adjust tools and prompts in the CoCounsel Library making the work product more relevant. Users can now automatically tailor their documents using specific regional requirements, including for the UK and Australia, British English spelling variations, legal terminology, grammar, and content formats. Similarly, this will be coming soon for Canadian English. Additionally, CoCounsel Library is now available in the UK, Canada and Australia.

HighQ integrates CoCounsel AI for intuitive, conversational client data access

With听CoCounsel鈥檚 Search a Database skill embedded within HighQ, this customer-driven development allows clients the ability to pose queries regarding their data and receive summarized, highly relevant answers. Sourced from pre-approved content within their site, clients can quickly review summaries, generate reports, and make informed decisions without waiting for manual responses.

Legal Tracker adds AI-powered capabilities

Legal Tracker鈥檚 new AI features help users manage legal spend more efficiently. The AI-powered PDF-to-LEDES converter and invoice review speed up invoice evaluation and ensure accurate billing. An AI assistant also streamlines reporting and reduces manual data handling.

Legal Tracker

 

These transformative features reinforce our commitment to empowering legal professionals with the tools and solutions they need to excel. or to see firsthand how they elevate work to new heights.

To stay abreast of newly added features, monthly releases, and more, please sign up for the .

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The Must-Have Skill for First Year Legal Associates: Adaptability /en-us/posts/innovation/the-must-have-skill-for-first-year-legal-associates-adaptability/ Wed, 27 Aug 2025 15:35:43 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=67370 As summer associate programs come to an end, another new generation of first year law firm associates is entering the professional workforce. While this historic rite of passage has deep roots in the rich tradition of apprenticeship and professional development that has sustained the legal profession for centuries, first-year associates face an unprecedented challenge: succeeding in an industry transforming at breakneck speed.

The most important skill new lawyers will need to thrive isn’t encyclopedic knowledge of case law, razor-sharp logic, or the ability to tolerate long hours 鈥 it’s adaptability. But what does that actually mean for a first-year associate starting their first job at a law firm? It means approaching the role as a continuous learner rather than someone who has “arrived” with their JD in hand.

Building An Adaptability Toolkit

Developing adaptability isn’t about becoming a generalist who can do everything 鈥 it’s about becoming someone who can quickly learn what each situation requires. Start by cultivating core habits and building your adaptability toolkit by:

Embracing technology: View legal technology as a collaborator, not a threat. The associates who thrive will be those who become fluent in leveraging the latest tools to produce higher-quality work more efficiently. According to a recent study, 28% of law firms are already using generative AI (GenAI) in their practices and 93% say GenAI will be a central part of their organization鈥檚 workflow within the next five years. So next time your firm introduces new research platforms or AI tools, volunteer to part of the beta test rather than waiting for mandatory training. This positions you as someone who embraces innovation rather than fears it.

Seek feedback on efficiency, not just accuracy: An adaptable associate might ask: “I completed this document review in eight hours 鈥 what would help me provide the same quality analysis in six hours next time?” This mindset shifts from time-based to value-based thinking, positioning new lawyers for success in an evolving market 鈥 and AI can help make this a reality by completing select tasks that take valuable time.

Participating in new experiences early in your career: Volunteer for cross-practice projects, client secondments, or firm innovation initiatives. The broader your exposure to different ways of practicing law, the more adaptable you’ll be when change inevitably happens. For example, if you’re a corporate associate, volunteer to help the litigation team with a discovery project 鈥 you’ll learn how the contracts you draft might be evaluated in disputes.

For first year associates to prove their value in this new world, it will require more than just hard work. You should put your energy toward higher-value tasks that put an emphasis on soft skills like adaptability, creativity, leadership, curiosity, and tech fluency. The work is no longer just about the volume of output produced; it is about leveraging all available resources 鈥 including technology 鈥 to achieve successful outcomes.

Lead Change, Don鈥檛 Just Follow It

To that end, adaptability remains the thing that will quickly separate the future leaders from the rest of the pack of first-year associates entering the legal workforce. While versatility as a skillset is not as easy to quantify as billable hours, it is a far more accurate measure of how well new attorneys are able to recognize new opportunities, embrace creative problem-solving, and adopt new approaches focused on achieving the best end result. This is the factor that will help law firms navigate the next decade of transformation 鈥 and the individuals prioritizing adaptability early in their careers will set themselves up as key drivers of the firm鈥檚 overall success.

Clients are demanding more value, transparency, and efficiency. Legal technology 鈥 from AI-assisted research tools to automated contract analysis 鈥 is redefining how law firms deliver services.

Today鈥檚 most effective legal professionals are those willing to rethink entrenched practices, test new technologies, and collaborate in ways that break down traditional silos. Adaptability in this context means not just keeping up with change but leading it. Start building your adaptability toolkit today, and you’ll be positioned to lead tomorrow’s legal innovations rather than scramble to catch up with them.

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The $28 Billion Rise of Alternative Legal Services Providers and a Looming Bifurcation in the Legal Market /en-us/posts/innovation/the-28-billion-rise-of-alternative-legal-services-providers-and-a-looming-bifurcation-in-the-legal-market/ Mon, 03 Feb 2025 00:05:11 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=64727 The legal landscape is changing, and a new report reveals just how significant the shift is becoming. According to the Alternative Legal Services Providers 2025 Report, released by 抖阴成年, the ALSP market has ballooned to an estimated $28.5 billion, fueled by an 18% compound annual growth rate from 2021 to 2023. This growth signifies a powerful trend: the increasing adoption and reliance on ALSPs by both corporate legal departments and traditional law firms.

One of the most intriguing aspects of this growth is the role of technology, particularly generative AI (GenAI). The report found that a significant percentage of both law firms (35%) and corporate legal departments (40%) find ALSPs leveraging GenAI to be more appealing.

However, the rise of ALSPs and the adoption of AI is also creating a division within the legal market. The report points to a bifurcation emerging between forward-looking legal entities embracing alternative delivery models and those clinging to traditional practices. This divide is especially notable as many corporate legal departments are signaling a decrease in spending with law firms hesitant to adapt to these evolving client expectations.

鈥淭he legal industry is going through significant transformation, driven by the adoption of GenAI technology,鈥 stated Laura Clayton McDonnell, president of Corporates at 抖阴成年. 鈥淎s legal departments become more sophisticated in their use of technology, they will increasingly expect their law firms and alternative legal service providers to deliver tech-enabled services that meet their evolving needs, driving a wave of innovation and efficiency across the entire legal industry.”

ALSPThis doesn’t mean traditional law firms are or will be obsolete. Many are successfully integrating ALSPs into their workflows, recognizing the value of their specialized expertise and cost-effectiveness. The key takeaway is clear: adaptability is critical. Those who embrace innovation, whether through incorporating ALSPs, leveraging AI, or adopting other technological advancements, are better positioned for success in this evolving landscape.

The legal market is at a crossroads. The future belongs to those who are willing to adapt and evolve, embracing new technologies and service models to deliver greater value and efficiency to their clients. The Alternative Legal Services Providers 2025 Report serves as a roadmap, highlighting the trends shaping the future of the legal profession.

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How Generative AI Is Shaping the Future of Law: Challenges and Trends in the Legal Profession /en-us/posts/innovation/how-generative-ai-is-shaping-the-future-of-law-challenges-and-trends-in-the-legal-profession/ Thu, 02 Jan 2025 09:02:08 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=64292 Helping our customers achieve their desired outcomes while using 抖阴成年 products, solutions and services is at the core of what we do. We continually talk with our customers to learn firsthand about their experiences and how 抖阴成年 can apply cutting-edge technology to solve their biggest pain points.听

These conversations are more important than ever as generative AI becomes more widely implemented across the legal industry. As our customers鈥 鈥 and their clients鈥 鈥 expectations change, it鈥檚 crucial that we鈥檙e closely aligned with their collective needs.听

With this mind, 抖阴成年 and Lexpert hosted a featuring law firm leaders and industry experts discussing the challenges and trends around the use of generative AI in the legal profession.鈥疊elow are insights from an engaging and informative discussion.

Lawyers are excited to implement generative AI solutions

Law firms may not have a reputation as early adopters of technology, yet many firms are already using generative AI solutions. David Cohen, senior director, client service delivery, McCarthy T茅trault, noted his firm鈥檚 response when it rolled out CoCounsel, the professional-grade GenAI assistant, a year ago. 鈥

鈥淲e put a call out for people to sign up and get a license, and the 175 seats were immediately filled,鈥 Cohen said. 鈥淭here was a wait list where people were pleading to get access to the tool 鈥 there鈥檚 certainly a lot of interest and excitement at our firm.鈥濃

Panelists noted how firms are increasingly implementing AI for drafting legal documents as well as for predictive analytics and other complex tasks.

Cohen said McCarthy T茅trault is using AI for higher-value work, including in litigation matters to scan data troves and identify where the firm has been successful in the past. 鈥

鈥淲e鈥檙e very interested in how we get a strategic advantage,鈥 Cohen said. 鈥淲hat arguments were used, what makes for a successful pleading 鈥 that鈥檚 something we can leverage.鈥 鈥

Rikin Morzaria, principal at Kinara Law, said he鈥檚 鈥渆xperimenting with and finding solutions that work long term,鈥 including using AI for advanced tasks such as drafting memos or reviewing his own work to identify potential areas for improvement.

鈥淚 treat it as something that would be submitted by a student or an intern, that needs to be reviewed again,鈥 Morzaria said. 鈥淚t ultimately produces a better product for me in the end.鈥

Unfounded concerns about robot lawyers

Panelists shared their perspectives on generative AI solutions augmenting, not replacing, humans.

鈥淎I doesn鈥檛 have human insight or instincts, it doesn鈥檛 know the client, it can鈥檛 read a room,鈥 said Valerie McConnell, senior director of CoCounsel Customer Success at 抖阴成年. 鈥淗ow lawyers allocate their time will shift: the hope and expectation is when we clear their plates, they鈥檒l have the space to think about strategic angles.鈥

This brought up how firms鈥 use of AI is changing talent management. Cohen noted that McCarthy T茅trault revamped its training program to incorporate the integration of AI into its workflows and processes.

鈥淗aving best-in-class prompts that are shared and available to our lawyers is something we certainly weren鈥檛 discussing a couple years ago,鈥 Cohen said. 鈥

Changing billing practices and elevating services

Panelists noted that generative AI is changing how lawyers bill their clients. They discussed an example of litigators relying more on flat-fee billing because they know they can handle certain aspects of a matter more quickly. 鈥

鈥淵our time in a discovery, trial, or mediation won鈥檛 change, but a lot of that time leading up to it will,鈥 Morzaria said. 鈥淭hat allows you to work more efficiently and take on work that may not have been feasible before.鈥 鈥

Panelists also shared how generative AI is helping firms elevate their services. They called out how firms in the litigation space are using it to surface key鈥痚vidence, while firms on the transactional side are using it for contract review.听

Managing and mitigating risks

Panelists discussed how firms are addressing concerns around emerging technologies including accuracy and privacy. Cohen noted firms are focusing on 鈥渁chieving the right balance where we鈥檙e generating benefits for our clients but also managing and mitigating the risks.鈥澨

McConnell emphasized that AI is not a replacement for a lawyer鈥檚 oversight. She recommended that firms create an AI policy, use a secure software platform that allows lawyers to easily verify output and doesn鈥檛 train on firm data, and provide employee training on responsible AI use. 鈥

Generative AI is shaping the future of law, and its impact on the legal profession will be even greater in 2025 and beyond. As the market matures, legal professionals will not just desire but require AI capabilities for their workflows.鈥疘nnovative firms at the forefront, including Kinara Law and McCarthy T茅trault, are best positioned to capitalize on the potential of this transformative technology to better serve their clients.

Check out highlights of the panelists鈥 conversation and listen to their full discussion .

This is a guest post from Raghu Ramanathan, president, Legal Professionals, 抖阴成年.

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2024 Reflections: Top Innovation Highlights From 抖阴成年 /en-us/posts/innovation/2024-reflections-top-innovation-highlights-from-thomson-reuters/ Wed, 11 Dec 2024 10:59:55 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=64149 抖阴成年 closed out 2024 with thousands of corporate, legal, tax, audit and accounting customers focusing on the year鈥檚 theme: generative AI and innovation. They convened at SYNERGY 2024, the premier annual technology conference for professionals, for eight days of product and innovation announcements, thought-leadership insights and networking opportunities. Below are 2024 product and innovation highlights plus a sneak peek of what鈥檚 to come in 2025.

抖阴成年 President and CEO Steve Hasker shared a state of the industry outlook, noting generative AI is as disruptive and transformative as previous technology shifts yet is happening even faster. He emphasized what differentiates 抖阴成年, including investments the company is making in generative AI to enable professionals to accelerate and streamline entire workflows and deliver more value for clients. 听

Hasker said 抖阴成年 has invested more than $200M in AI in the last year. He discussed the company鈥檚 vision to provide each professional it serves with an AI assistant; the launch of CoCounsel 2.0, which generates answers three times faster than the previous version; and new work with Microsoft on autonomous agents to increase revenue, reduce costs, and scale impact for customers.鈥

Tax, Audit & Accounting听

鈥淎I is not just changing the landscape of accounting, it’s reshaping it.鈥 That was the message from Elizabeth Beastrom, president of Tax & Accounting at 抖阴成年.

While the profession sees AI as a game-changer to help them work differently, tax and accounting professionals also continue to wrestle with the perennial challenge of a talent shortage. This, combined with escalating complexity and more tax regulations, as well as changing client expectations, leaves tax professionals in need of a critical solution.

抖阴成年 sees the potential of AI to help alleviate these challenges by augmenting human capabilities. Automating mundane, time-consuming tasks will enhance efficiency for tax professionals, helping them reclaim time to channel into higher value tasks. 抖阴成年 is working to bring the power of generative AI, machine learning and automation into its solutions in the following ways:

  1. Saving time in tax preparation:

Coming in beta during the upcoming busy season, 抖阴成年 will launch an AI-assisted tax preparation experience to increase firm efficiency. The solution combines the power of CoCounsel, 抖阴成年 professional-grade generative AI assistant, with workflow automation and software integrations. It supports the delegation of data gathering to simplify mundane tasks and automate tax preparation. 抖阴成年 research shows that customers using this solution will save at least two hours per 1040 tax return on average.

2. Supporting firms鈥 growth with advisory:

As client expectations continue to evolve, they鈥檙e increasingly looking to their accountants as trusted advisors. Firms of all sizes are focusing on growing their advisory practices to help bring their clients additional value, as well as supporting their growth. In 2025, the 抖阴成年 Advisory Solution will combine the power of CoCounsel and Checkpoint content to identify advisory opportunities. Advisory services are integrated directly into a firm鈥檚 practice, with technology empowering junior staff to take on higher-value advisory work and seasoned professionals to move beyond technical expertise to value-added synthesis.

鈥淚t helps firms build their advisory practice with confidence to deliver unprecedented value to meet clients鈥 evolving needs,鈥 said Nancy Hawkins, vice president of Product Management, Research.

3. Transforming audit efficiency:

Halving sample sizes, boosting efficiency and sharpening the focus on high-risk areas are all at the heart of 抖阴成年 Audit Intelligence Analyze solution, which launched in October. Further functionality will be coming in 2025 as it expands the Audit Intelligence suite capabilities. 鈥楾est鈥 will support with automating substantive testing with dynamic transaction tracing, while 鈥楶lan鈥 will harness full data populations with cutting-edge analytics for superior risk assessment. Both will launch with beta programs next year, along with the addition of CoCounsel to the Audit Intelligence suite.

All three solutions 鈥 Review Ready, 抖阴成年 Advisory Solution and the Audit Intelligence suite 鈥 will be further enhanced with 惭补迟别谤颈补鈥檚 generative and agentic AI capabilities.

Corporates

Laura Clayton McDonnell, president of the Corporates segment, shared how enterprise technology, including AI and generative AI, is revolutionizing the profession with innovative and emerging solutions. She emphasized that companies are taking a streamlined and proactive approach to addressing risk and compliance across the enterprise, while driving towards their business goals, will maintain their competitive advantage. Clayton McDonnell also shared how organizations are using solutions including ONESOURCE Pagero, CoCounsel Core, Legal Tracker, Checkpoint Edge with CoCounsel and CLEAR to solve challenges and realize value for their business.

In addition, Ray Grove, head of Corporate Tax and Trade, 抖阴成年, highlighted the company鈥檚 efforts to build a seamless, integrated compliance network, and Kevin Appold, vice president of US Public Records, 抖阴成年, shared how the company鈥檚 risk and fraud solutions play a critical role in the convergence of compliance and commerce. Also, Valerie McConnell, senior director of CoCounsel Customer Success, discussed how CoCounsel is transforming the general counsel鈥檚 office.

Legal

A highlight from the Legal Professionals segment included an in-depth look at the 抖阴成年 2025 AI product roadmap from David Wong, chief product officer; Mike Dahn, head of Westlaw Product; and Valerie McConnell, senior director of CoCounsel Customer Success. They outlined upcoming generative AI features and innovations to support legal professionals, including deeper integration of CoCounsel 2.0 in Westlaw and Practical Law plus generative AI research features including Claims Explorer, Mischaracterization Identification in Quick Check and AI Jurisdictional Surveys.

Legal SYNERGY attendees also participated in interactive sessions and CLE courses on advanced prompting techniques, the science behind large language models, and optimizing generative AI for tasks like drafting and legal research. Sessions offered attendees a comprehensive view of the future of AI in law.鈥

SYNERGY 2024 also included several customer panels and executive briefing sessions. Watch the Innovation Blog for highlights from these sessions and for 2025 product and innovation highlights.

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Law Firm Profitability Up: Top Takeaways from the Q3 2024 抖阴成年 Law Firm Financial Index /en-us/posts/innovation/law-firm-profitability-up-top-takeaways-from-the-q3-2024-thomson-reuters-law-firm-financial-index/ Mon, 11 Nov 2024 11:30:55 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=63787 Law firms are on an impressive streak, notching their seventh consecutive quarter of profit improvement amid an acceleration of demand and continued gains in productivity. That鈥檚 one of the key findings of the Q3 2024 抖阴成年 Law Firm Financial Index (LFFI), powered by . Below is a look at standouts from the report.

  1. Lawyer productivity gains are boosted by technology

In Q2 2024, for the first time in years, a majority of law firms experienced productivity growth. In Q3, a whopping 64% of law firms reported productivity growth, building on the gains seen in Q2.

鈥淭he continued climb in law firm average productivity 鈥 in stark contrast to previous years 鈥 is a key factor boosting law firm profitability,鈥 said Raghu Ramanathan, president of Legal Professionals, 抖阴成年. “Law firms that not only invest in new technology but also adopt AI and generative AI solutions to streamline workflows and improve the efficiency and quality of their work will be best positioned to improve client satisfaction and experience sustained productivity growth.鈥

2. Demand continues to rise

Overall demand for legal services is up by a solid 3.6% compared to the same quarter last year. Leading the charge are counter-cyclical practices, with litigation demand up by 4.0% and labor & employment not far behind at 2.9%. Real estate led the growth in transactional practices, up 3.7%. The balanced growth across practice areas indicates a more sustainable expansion than what law firms experienced during the post-pandemic boom.

3. Both full-time equivalent headcount and productivity are up

Q3 2024 was the first time in three years that law firms increased both their full-time equivalent headcount and productivity. While there鈥檚 been a slight uptick in expenses 鈥 5.7% for direct and 5.3% for overhead 鈥 the modest hiring rate compared to the boom years of 2021 and 2022 is helping firms keep these costs in check.

4. Stable economy provides ideal growth environment

The strong performance for law firms was supported by a stable and healthier-than-expected U.S. economy. Despite earlier concerns about sustained inflation and slow economic growth, the economic environment has provided a foundation for law firms to thrive. Law firms are positioned for a strong close to 2024.

Download the full report for additional insights on the factors shaping the future of law firm profitability and productivity.

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Legal Tracker Continues Delivering Benefits 鈥 and Results 鈥 to Legal Departments Worldwide /en-us/posts/innovation/legal-tracker-continues-delivering-benefits-and-results-to-legal-departments-worldwide/ Thu, 07 Nov 2024 13:13:48 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=63768 Controlling spend remains a top priority for legal departments. To manage costs effectively, enforcing billing guidelines is widely regarded as a best practice, helping to reduce invoice fees and expenses. Additionally, more than half of legal departments have adopted other cost-control measures, including reviewing high-cost matters, implementing standard discounts to timekeeper rates, negotiating lower rates, and setting clear law firm matter budgets.

In addition to these cost-control strategies, many legal departments rely on from 抖阴成年, the market-leading legal spend management solution. Legal Tracker has an extensive market presence, with $250B in legal spend analytics, allowing clients to benchmark their performance against peers. Its global directory consists of more than 120,000 legal vendors, including all Am Law 200 firms and Global 100 firms.

And it delivers results. Legal Tracker enables law firms to streamline operations and reduce annual legal spend by up to 15%. A Forrester Total Economic Impact Study reported a 372% return on investment over three years with a payback period of just six months.1

According to Alex Dobson, director, Product Management from 抖阴成年, 鈥淟egal Tracker is designed to enhance efficiency, and our clients typically see the system pay for itself within just six months, thanks to significant time savings and process improvements.鈥澨

But Legal Tracker isn鈥檛 stopping there to enhance legal department efficiency. 抖阴成年 is committed to innovation by investing $100M annually in AI over the coming years. For Legal Tracker, this includes AI-powered invoice audits and streamlined matter intake. Customers can also expect enhanced ROI through AI-enabled detection of duplicate charges and overbilling, as well as the automatic conversion of non-LEDES invoices to LEDES format.

The Legal Tracker team isn鈥檛 relying solely on AI, however. A new partnership with LegalBillReview.com adds a human touch to the innovation and savings that Legal Tracker delivers. LegalBillReview.com is a team of U.S.-licensed attorneys dedicated to identifying and correcting billing errors and overcharges on outside counsel invoices.

The team collects bills directly from Legal Tracker on behalf of the client, performs a detailed analysis, and presents the findings to the law firm. They manage appeals, apply invoice-level adjustments where necessary, and finalize bill approvals within Legal Tracker, after invoice audits have already run on invoices.

鈥淥ur purpose is to save in-house personnel resources, freeing staff to focus on high-value work for the business,鈥 said Ryan Loro, president, LegalBillReview.com. 鈥淥n average, we help customers save 12% on their legal expenses.鈥

鈥淭he partnership is a great fit,鈥 added Dobson. 鈥淥ur customers want additional support for manual bill review and approval, and having a human set of eyes to ensure compliance and resolve billing issues creates a smooth, transparent billing process.鈥澨

听1 Forrester Total Economic Impact Study, 2023听

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