Notable ILTACON moments included the launch of CoCounsel 2.0 and a celebration of the one-year anniversary of Casetext joining Thomson Reuters. Legal industry journalists and influencers including Joe Patrice, Isha Marathe and Richard Tromans highlighted the Thomson Reuters milestones. Read their takeaways on the Thomson Reuters Innovation Blog, and check out more Innovation Blog posts …
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“Tech spending remains especially hot:” Reactions to the Thomson Reuters Q1 2024 Law Firm Financial Index
“While overhead expenses continued to cool during the first part of 2024, tech spending remains especially hot,” Andrew Maloney noted in Law.com’s coverage of the Q1 2024 Thomson Reuters Law Firm Financial Index. “Taking inflation into account, law firms are investing in technology at their most rapid pace since at least 2014, the report noted. …
Tech and Legal Industries React to the Thomson Reuters Expansion of CoCounsel
The Thomson Reuters expansion of CoCounsel “spreads the LLM love beyond legal,” said Richard Tromans on social media as part of Artificial Lawyer’s coverage of the announcement. Journalists and bloggers shared their perspectives on the CoCounsel expansion, which includes the rollout of the generative AI assistant beyond the legal landscape as well as new skills …
“Embrace the litigators in your lives:” Reactions to the Latest Thomson Reuters Law Firm Financial Index
“Embrace the litigators in your lives” may sound like a Valentine’s Day lawyer meme, but it was Joe Patrice’s takeaway from the Q4 2023 Thomson Reuters Law Firm Financial Index. Journalists’ and bloggers’ coverage of the report, released last week, emphasized how law firms’ profits rebounded in 2023, driven by rate growth and stronger demand …
Legal Industry Reaction to AI-Assisted Research on Westlaw Precision and the Thomson Reuters Generative AI Strategy
Thomson Reuters provided legal industry journalists a sneak peek of AI-Assisted Research on Westlaw Precision and introduced a series of additional initiatives, including the new generative AI assistant connecting all Thomson Reuters generative AI products, Thomson Reuters Generative AI Platform, generative AI capabilities in Practical Law, and CoCounsel Core. Legal Current shares perspectives from legal …
Record Growth in Attorney Rates in 2023: More of the Same in 2024?
Just in time for fourth quarter – when many law firms are exploring rate setting with clients for the coming year – is a new Thomson Reuters report, Law firm rates in 2023: What’s working, what isn’t, and how to move forward in 2024. It examines the current and historical performance of law firm rates …
2022 Highlights: Law Firm Financial Index Reports Highlight Trends in Law Firm Profitability
Legal Current’s year-in-review series looks back at 2022 milestones for the Legal Professionals business. Today we revisit the quarterly Law Firm Financial Index (LFFI) reports from the Thomson Reuters Institute. LFFI is a composite index of law firm market performance using real-time data drawn from major law firms in the United States and key international …
2022 Highlights: Westlaw Precision Improves Research Speed and Quality for Legal Professionals
As 2022 comes to a close, Legal Current is reflecting on the Legal Professionals business’s milestones from the year. Today we look at the debut of Westlaw Precision and how it’s dramatically improving research speed and quality for legal professionals. Its six new research capabilities – Precision Research, KeyCite Cited With, KeyCite Overruled in Part, …
2022 Highlights: The Importance of Cash and Culture in Lawyer Retention
With 2022 winding down, Legal Current is reflecting on the Legal Professionals business’s milestones from the year. Today we look at the Law Firms Competing for Talent in 2022: Will Lawyers Stay or Will They Go? report – and what a difference a few months makes. When the legal industry was buzzing about lawyer retention and …
Westlaw Precision: Expanded KeyCite Functionality and a New Striped Flag
“This is legal nerd stuff, but Westlaw has a new KeyCite flag between Yellow and Red and it’s exciting.” Above the Law Editor Joe Patrice’s tweet about KeyCite Overruled in Part fueled some of the buzz over the new features in Westlaw Precision. Legal Current is taking a closer look at the six new research …
