Document Management Systems Archives - Thomson Reuters Institute https://blogs.thomsonreuters.com/en-us/innovation-topics/document-management-systems/ Thomson Reuters Institute is a blog from ¶¶ŇőłÉÄę, the intelligence, technology and human expertise you need to find trusted answers. Tue, 26 Nov 2024 14:30:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 CoCounsel Drafting Is Now Available for the UK Market /en-us/posts/innovation/cocounsel-drafting-is-now-available-for-the-uk-market/ Tue, 26 Nov 2024 08:32:05 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=64019 I’m excited to share that ¶¶ŇőłÉÄę rolled out CoCounsel Drafting – an end-to-end drafting solution that streamlines and improves the drafting process for legal professionals within Microsoft Word – for UK legal professionals. CoCounsel Drafting allows users to easily and quickly move through the phases of contract creation, and our latest version is tailored for the UK market.

The generative AI-driven solution enables UK legal professionals to find the best starting point from their own databases or Practical Law templates, use content from Practical Law alongside their legal department’s or firm’s contract repository to draft or revise clauses, leverage Practical Law contract playbooks, and correct common drafting errors. It uses AI to refine and review documents, producing more accurate, higher-quality work – without leaving Microsoft Word.

Rawia Ashraf, Vice President of Product Management, ¶¶ŇőłÉÄę

I recently shared a CoCounsel Drafting demo with ’s Richard Tromans.

“The offering has been especially shaped for legal needs here and will directly engage with TR’s contract data in Practical Law,” Tromans said in .

I highlighted CoCounsel Drafting capabilities and features for Tromans, and we discussed how “LLM-supported drafting could be truly transformative.” We talked about how users will be able to use the large language model (LLM) to modify a clause, for example, and how CoCounsel Drafting uses generative AI grounded in retrieval augmented generation (RAG) to access Practical Law content and notes.

We also discussed how CoCounsel Drafting delivers a level of detail similar to what a junior associate may produce when asked to draft a contract. I noted that CoCounsel Drafting allows customers to use their own playbook to draft a preferred set of terms for any contract type or use a Practical Law playbook for a range of popular contract types.

Finally, Tromans and I discussed integrations – with HighQ and with document management systems (DMS) including iManage – as well as security.

On the other side of the pond, U.S. customer feedback on CoCounsel Drafting, which we introduced earlier this year, has been overwhelmingly positive. I hope that UK legal professionals are equally pleased with the time savings and productivity increases CoCounsel Drafting offers.

As a former lawyer turned AI product leader, I’ve lived the pain of tedious legal tasks firsthand. That’s why I’m passionate about harnessing generative AI to transform legal drafting. I know how much time and energy gets wasted on repetitive tasks, taking away from the work that really matters. Now, I’m excited to help lawyers reclaim that time and focus on what they love – whether that’s helping clients, developing strategy, or simply enjoying a better work-life balance.

You can learn more about CoCounsel Drafting , and check out Tromans’ blog .

This is a guest post from Rawia Ashraf, vice president of Product Management, ¶¶ŇőłÉÄę.

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ILTACON Highlights: CIOs’ Perspectives on Document Management Systems, Generative AI, and More /en-us/posts/innovation/iltacon-highlights-cios-perspectives-on-document-management-systems-generative-ai-and-more/ Fri, 23 Aug 2024 13:56:54 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=62759 Steve Assie, general manager, Global Large Law Firms, ¶¶ŇőłÉÄę, attended and moderated a panel discussion for CIOs from G100 and G200 firms. Below, he shares his takeaways from the panel and the conference.

What truly stood out to me at ILTACON was the energy and enthusiasm of the event. I was struck by how the collaborative atmosphere among attendees – ranging from seasoned legal professionals to tech enthusiasts – created an enriching environment for knowledge exchange and networking.

The conference center was brimming with excited representatives from law firms and vendors showcasing innovative solutions. Everyone was grappling with how – and when – generative AI could transform the practice of law.

The insightful sessions on cybersecurity, data privacy, and the future of legal tech trends provided valuable takeaways that are likely to shape the industry in the coming years. Overall, the conference underscored the rapid advancements and the pivotal role of technology in transforming the legal landscape.

CIO insights

I moderated a among G100 and G200 CIOs. The CIOs discussed the evolving role of the document management system, the opportunity for generative AI to drive efficiency improvements now and in the future, the evolving expectations of corporate law departments, and data security practices.

Audience attendees seemed especially interested in the tenor of the conversation around transformative AI solutions. One of the CIOs said that his firm was using CoCounsel as its AI assistant and that lawyers at the firm were eager adopters. He mentioned wanting to buy more seats. That was a fun moment for me!

CoCounsel 2.0

We hosted a number of extremely well-attended events, including customer dinners, an appreciation event, and other celebrations. The opportunity to share perspectives and learn from law firms was invaluable.

I was thrilled to see that the announcement of CoCounsel 2.0 seemed to generate the most excitement among product news. Jake Heller, head of Product for CoCounsel, ¶¶ŇőłÉÄę, showcased a side-by-side view on the speed of the application, highlighting how CoCounsel 2.0 moves more than 3 times faster than the current version CoCounsel Core. After customers saw that, they were clamoring for access.

On a personal level, I enjoyed seeing so many former colleagues and peers. The legal community is a tight-knit group. It was amazing to walk the halls of the conference centers and catch up with so many great people.

Check out other ¶¶ŇőłÉÄę ILTACON recaps, including the legal industry’s reaction to the launch of CoCounsel 2.0. and highlights from the  “How Today’s Lawyers Are Enhancing Their Practice with AI” session.

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