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The Aug. 28 webinar – hosted by Jake Heller, head of Product for CoCounsel, Thomson Reuters, and Jake Porway, co-founder of DataKind and an NCSC AI consultant – is part of a new AI and the Courts series of monthly discussions. The webinar will offer participants a foundational understanding of AI and its potential to enhance the efficiency and effectiveness of the judicial process, highlighting current applications of AI in the court system and the ethical implications of its use.

Read more about the webinar and the consortium on the Thomson Reuters Innovation Blog.

Assie shared top takeaways from the panel and the conference on the Thomson Reuters Innovation Blog. Check out more Thomson Reuters 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, on the Innovation Blog.

Read Hron’s perspective on the acquisition on the Thomson Reuters Innovation Blog. Also, check out more Innovation Blog posts for product news, leader insights, and customer perspectives on how Thomson Reuters is paving the way for the future of professionals.

Read their takeaways on the Thomson Reuters Innovation Blog, and check out more Innovation Blog posts for product news, leader insights, and customer perspectives on how Thomson Reuters is paving the way for the future of professionals.

She shared takeaways from the panel and the conference on the Thomson Reuters Innovation Blog, noting “One of the most surprising and encouraging moments at ILTACON was seeing the shift in attitudes toward generative AI. Where there was once skepticism and anxiety, I now see a growing acceptance and even enthusiasm. The concerns that previously dominated discussions – like the potential impact on the billable hour – seem to have softened. Instead, there’s a growing recognition that generative AI is not just a disruptive force but a transformative tool that can enhance legal practice.”

Read more of McConnell’s insights on the Innovation Blog, and check out additional ILTACON highlights, including the launch of CoCounsel 2.0. The Innovation Blog features product news, leader insights, and customer perspectives on how Thomson Reuters is paving the way for the future of professionals.

David Wong, chief product officer, Thomson Reuters, discussed CoCounsel 2.0 with Jake Heller, head of Product for Counsel, Thomson Reuters, and Kriti Sharma, chief product officer of Legaltech, Thomson Reuters, in their ILTACON session, “Maximizing Impact and ROI: Harnessing the Full Potential of GenAI in the Legal Profession.”

They highlighted how CoCounsel 2.0 tests combining the unique capabilities and strengths from OpenAI, Google, and Thomson Reuters. They also noted CoCounsel 2.0 brings additional and upgraded capabilities for legal professionals and is accessible from within Thomson Reuters products – beginning with Westlaw Precision and Practical Law – and from within Microsoft 365, beginning with Word, Teams, and Outlook.

Check out the Thomson Reuters Innovation Blog for more on CoCounsel 2.0. Read additional Innovation Blog posts for product news, leader insights, and customer perspectives on how Thomson Reuters is paving the way for the future of professionals.

Growth in demand was led by the counter-cyclical practices of litigation. Yet a notable Q2 shift in demand showed that counter-cyclical practices are no longer the sole drivers of overall growth.

Demand for transactional practices, which includes general corporate, M&A, real estate and tax practices, returned to growth mode for law firms following nearly three years of subpar performance. Transactional fees worked – a proxy for revenue – saw the greatest Q2 resurgence of any cyclical practice group, driven by increased billing rates.

For more insights, read the Thomson Reuters Innovation Blog or download a copy of the Q2 2024 LFFI report.

First, let’s settle on terminology. We should use terms like “errors” or “inaccuracies” instead of “hallucinations.” “Hallucination” sounds smart, like we’re AI insiders and know the lingo, but the term is often defined narrowly as a fabrication, which is just one type of error. Customers will be as concerned, if not more concerned, about non-fabricated statements from non-fabricated cases that, despite being real, are still incorrect for the question. “Errors” or “inaccuracies” are much better and more encompassing ways to describe the full range of problems we care about.

Visit the Thomson Reuters Innovation Blog to read the full post from Mike Dahn, head of Westlaw Product Management, Thomson Reuters.

“There was a significant focus on the practical application and optimization of generative AI,” said Valerie McConnell, senior director, CoCounsel, Thomson Reuters. “AALL attendees wanted to learn how to use AI tools in the most effective ways possible. They were looking for strategies to integrate generative AI seamlessly into their workflows. This shift in dialogue reflects a growing maturity in the adoption of AI, highlighting a readiness to leverage these technologies to their fullest potential.”

Rachel Beithon, senior product manager, Westlaw AI & Analytics, Thomson Reuters, also noticed attendees’ heightened interest in AI tools.

“I was a little concerned that after the last 18 months of near-constant AI discussion in the legal industry that there might be some fatigue setting in,” Beithon said. “But people were so eager to talk more about generative AI solutions.”

Claims Explorer, the new generative AI skill in Westlaw Precision with CoCounsel that launched during AALL, was among the solutions sparking conversations with attendees. “They were absolutely thrilled with Claims Explorer and its use cases,” Beithon said. “It was obvious how much time this would save when doing the often-arduous task of exploring potential claims.”

CoCounsel was also generating buzz.

“One of the most frequent topics of discussion during our CoCounsel sessions concerned our integrations with Microsoft products and document management systems,” McConnell said. “There seems to be a strong interest in using generative AI seamlessly across multiple platforms and systems. Attendees recognized the potential efficiency and productivity gains from having CoCounsel work with the tools they already use daily.”

For more more AALL takaways, visit the Thomson Reuters Innovation Blog.