Leading the way in AI technology
- Thomson Reuters to invest over $100 million per year in generative AI
- Acquisition of Casetext to accelerate integration of AI technology
- New generative AI skill to be available in Westlaw Precision product
- Practical Law customers to benefit from generative AI in chat-type interface
- Investment in AI learning and development programs for employees
Thomson Reuters is ramping up its investment in generative artificial intelligence (AI), with plans to allocate over $100 million annually to the technology. The company aims to be at the forefront of AI, which its CEO believes will revolutionize the future of work. As part of its efforts, Thomson Reuters recently acquired tech company Casetext and is committed to integrating its solutions to enhance its products. In the coming months, customers can expect a new generative AI skill in the flagship Westlaw Precision product, allowing for complex questions to be asked and answered in conversational language. Practical Law customers will also benefit from a chat-type interface powered by generative AI. Thomson Reuters is not only investing in technology but also in AI learning and development programs for its global workforce of 26,000 employees.
Public Companies: Thomson Reuters (TRI)
Private Companies: Casetext
Key People: Steve Hasker (President and Chief Executive)
Factuality Level: 8
Justification: The article provides factual information about Thomson Reuters’ plans to invest in generative AI and integrate Casetext. It includes specific details about the new AI skill and chat-type interface that will be available to customers. The article does not contain any obvious bias or opinion masquerading as fact. However, more information about the sources and evidence supporting the claims would increase the factuality level.
Noise Level: 7
Justification: The article provides information about Thomson Reuters’ plans to invest in generative AI and integrate Casetext. It mentions the potential impact of AI on the future of work and the company’s plans to release new AI features in its products. However, the article lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on Thomson Reuters’ plans without exploring the broader implications or discussing potential risks and challenges associated with AI integration.
Financial Relevance: Yes
Financial Markets Impacted: Thomson Reuters
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses Thomson Reuters’ plans to invest in generative artificial intelligence, which is a financial topic. There is no mention of any extreme event.
