Overview
- CoCounsel now serves professionals across legal, tax, compliance and audit in more than 100 countries, with usage extending to about a quarter of Fortune 1000 companies.
- Thomson Reuters shares rose more than 11% after the announcement, the biggest single‑day gain since 2009, though the stock remains down over 30% year to date following recent AI‑driven market turmoil linked to Anthropic’s launches.
- The company says outputs are grounded in proprietary, editorially refined archives and vetted by over 4,500 subject‑matter experts, and it states customer inputs are not used to train third‑party models.
- Executives describe a deep collaboration with Anthropic, using Claude to underpin the latest CoCounsel release within a multi‑model setup integrated across Westlaw, Practical Law and Microsoft 365.
- Thomson Reuters disclosed development of an in‑house LLM for legal, tax and compliance, with company‑reported benchmarks claiming superior reasoning and factuality, and it cites early workflow gains such as a 60%–70% time reduction in a multi‑jurisdiction tax return process.