Thomson Reuters CoCounsel
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A Thomson Reuters CoCounsel is an LLM-based legal practice-focused conversational AI product.
- Context:
- It can support Legal Practice Use Cases, such as:
- Legal Document Management, such as: [[]] and [[]].
- Legal Research, such as Legal Document Q&A.
- Contract Policy Compliance, helping ensure contract language complies with organizational policies and suggesting revisions where needed.
- Claims Research, streamlining the process of researching and exploring legal claims, making it easier to navigate complex legal arguments.
- Deposition Preparation and Deposition Analysis, automating the creation of detailed deposition outlines, including drafting relevant questions based on case specifics.
- Document Summarization, reducing complex and lengthy documents into concise summaries while preserving key details.
- Deposition Analysis and Deposition Preparation.
- ...
- It can have CoCounsel Features, such as:
- Document Summarization to condense critical information from lengthy documents.
- Contract Data Extraction to quickly identify and list relevant contract clauses.
- CoCounsel Drafting, an end-to-end drafting tool integrated with Microsoft Word to enhance drafting efficiency and accuracy.
- Practical Law Dynamic Tool Set, enabling users to query and receive expert-backed summaries and guidance based on Practical Law content.
- Server-to-Server Integration, allowing CoCounsel to access and manage customer documents directly, facilitating seamless document management.
- CoCounsel High Throughput Beta, automating large-scale document reviews with human-level accuracy, ideal for intensive review tasks.
- Legal Database Searching.
- Legal Database-based Analysis.
- Legal Source Verification.
- Result Filtering and Result Refining.
- integrate Litigation AI and Transactional AI capabilities.
- Natural Language Interface.
- User Query Interpretation and Clarification Dialog.
- ...
- It can assist in Legal Workflow Optimization, significantly reducing time and improving accuracy in legal processes.
- It can integrate with Thomson Reuters Products like Westlaw Precision and Practical Law, as well as Microsoft 365 applications such as Word, Teams, and Outlook.
- It can be powered by leading AI models, including GPT-4 and Gemini 1.5, ensuring high performance in complex legal tasks.
- …
- It can support Legal Practice Use Cases, such as:
- Example(s):
- CoCounsel v1 (~2023-06), based on GPT-4.
- CoCounsel v2 (~2024-08), based on Gemini 1.5.
- ...
- CoCounsel for Pro Bono Work, where nonprofit organizations use CoCounsel to clear legal backlogs and provide representation to underserved communities.
- CoCounsel for Contract Analysis, allowing firms to expedite the contract review process by highlighting risky clauses, extracting key information, and providing automated summaries.
- CoCounsel in Courtroom Support, where it assists litigators in real-time during depositions, providing insights and document retrieval on demand.
- CoCounsel for Legal Research Memos, generating concise, accurate research memos in minutes by leveraging its comprehensive legal knowledge and document analysis capabilities.
- …
- Counter-Example(s):a
- See: AI Legal Assistant, Legal Tech, Legal AI System, Contract-Focused Chatbot, Contract Management System.
References
2024
2024
- https://www.thomsonreuters.com/en/press-releases/2024/august/thomson-reuters-unveils-cocounsel-2-0.html
- NOTES:
- Thomson Reuters has announced CoCounsel 2.0, a next-generation GenAI assistant designed to significantly enhance workflow efficiency for professionals across various industries.
- CoCounsel 2.0 operates three times faster than its predecessor, delivering more thorough and nuanced results with improved intuitive operation.
- The new version integrates capabilities from leading AI models, including OpenAI, Google, and Thomson Reuters' proprietary technologies, optimizing performance for complex, multi-step tasks.
- CoCounsel 2.0 is accessible within Thomson Reuters products like Westlaw Precision and Practical Law, as well as Microsoft 365 applications such as Word, Teams, and Outlook.
- The assistant can access customer documents directly via server-to-server integrations with data storage solutions, facilitating efficient document management.
- A new CoCounsel High Throughput Beta feature allows the automation of large-scale document reviews with human-level accuracy, now available to all users.
- CoCounsel 2.0 includes upgraded legal capabilities, such as Claims Explorer for streamlined claims research and CoCounsel Drafting, which accelerates the drafting process by up to 50%.
- NOTES:
2023a
- (Reuters, 2023) ⇒ https://www.reuters.com/markets/deals/thomson-reuters-acquire-legal-tech-provider-casetext-650-mln-2023-06-27/"
- QUOTE: Thomson Reuters (TRI.TO) said on Monday it had agreed to acquire Casetext, a legal startup with an artificial intelligence-powered assistant for law professionals, in a $650 million all-cash deal. One of Casetext's key products is Casetext CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes, Thomson Reuters said in a statement.
2023b
- (LinkedIn) ⇒ https://linkedin.com/company/casetext/about/"
- QUOTE: Meet Casetext, the leaders of innovation in legal AI since 2013 and the developers of CoCounsel, the world's first AI legal assistant. CoCounsel completes document review, legal research memos, deposition preparation, and contract analysis in minutes—with results lawyers can trust.
2023c
- (CaseText, 2023) ⇒ https://casetext.com/cocounsel/
- QUOTE: The legal AI you've been waiting for.
Accomplish shockingly thorough, accurate, and efficient work—so you can do more of what AI can’t.
- What can CoCounsel do?
- Review Documents: Ask a question about your documents and CoCounsel will read them in full and answer, with citations to sources. Quickly find everything from critical testimony in voluminous transcripts to key terms in dense contracts.
- Prepare for a Deposition: Get a thorough deposition outline in no time. Describe the deponent and what’s at issue in the case, and CoCounsel identifies multiple highly relevant topics to address and drafts questions for each.
- Search a Database: Ask a question and CoCounsel will search your documents, read the relevant ones, and answer. Find only what you need, like the right template or precedent, previous work product, or internal know-how.
- Legal Research Memo: Ask a research question, and give as much detail as you like—the facts, jurisdiction, nuance—and in minutes CoCounsel retrieves on-point resources and provides an answer with explanation and supporting sources.
- Summarize: Interpret and condense critical information in any type of document—including dense agreements, complex contracts, and lengthy opinions—faster than humanly possible and without missing key details.
- Extract Contract Data: Quickly get answers and a complete list of relevant clauses from every contract in a set, based on your questions, making it easier to accurately track deal terms, dollar amounts, and dates.
- Contract Policy Compliance: CoCounsel captures every single clause in a set of contracts that doesn’t comply with a policy or set of policies, reports the risks of using non-compliant language, and recommends revisions.
- QUOTE: The legal AI you've been waiting for.