Valerie McConnell, senior director, CoCounsel, Thomson Reuters, was a panelist at the Aug. 14 ILTACON session, “How Today’s Lawyers Are Enhancing Their Practice with AI.” 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 …
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Record Revenue and Rate Growth: Top Takeaways from Q1 2024 Thomson Reuters Law Firm Financial Index
Law firms achieved elevated revenue growth in the first quarter of 2024 and continued to heavily invest in technology. These are among the findings of the Q1 2024 Thomson Reuters Law Firm Financial Index (LFFI), powered by Financial Insights. Legal Current shares key takeaways from the report, which found that law firms returned to a …
- May 6, 2024
- Carrie Brooker
Podcast Highlights: Emily Colbert on the Human Side of Generative AI
Emily Colbert, senior vice president of product management at Thomson Reuters, joined Dennis Kennedy and Tom Mighell on the Kennedy Mighell Report to talk about how legal professionals are using AI. They discussed the integration of generative AI into Practical Law, which Colbert emphasized required extensive human expertise. They also talked about driving efficiencies and …
- April 2, 2024
- Carrie Brooker
Podcast Highlights: Pablo Arredondo on the Legal Profession’s “Fervor and Excitement” Around Generative AI
Pablo Arredondo, vice president of CoCounsel at Thomson Reuters and co-founder of Casetext, has been making the rounds on legal tech and AI podcasts, celebrating the one-year anniversary of CoCounsel. Legal Current shares highlights from his conversations on 3 Geeks and a Law Blog and The Cognitive Revolution. Arredondo talked with The Cognitive Revolution’s Nathan …
- March 18, 2024
- Carrie Brooker
Firms Reconsider How Technology Shapes Productivity as Law Firm Market Returns to Profitability
Law firms showed resilience in 2023, taking advantage of shifts in market demand and aggressively raising rates while exercising restraint in costs, particularly talent costs for associates. This balanced approach of managing for both topline growth and cost controls paid dividends for firms; if they continue to successfully execute on those strategies, the market is …
- February 16, 2024
- Carrie Brooker
2024 Predictions from Thomson Reuters Legal Leaders
Most – ok, all – conversations about what to watch for in 2024 turn to predictions on just how disruptive artificial intelligence, particularly generative AI, will be. Thomson Reuters leaders in the legal space shared their insights on what’s in store for 2024. “Natural language interface will become table stakes for many legal software users …
- January 19, 2024
- Carrie Brooker
Thomson Reuters Judicial Analytics to Integrate with Courtroom Insight
A new Thomson Reuters collaboration with Courtroom Insight will deliver seamless access from Thomson Reuters Litigation Analytics to the Courtroom Insight Knowledge Management Platform. The collaboration, announced today, provides mutual customers with access to relevant research on judges, case types, and judgments in the United States. Courtroom Insight users will have access to Thomson Reuters …
- July 11, 2023
- Carrie Brooker
Generative AI Product Preview: Westlaw Precision
Thomson Reuters is incorporating generative AI capabilities enterprise-wide to provide customers with a more conversational experience, intuitive automation, time savings and a significantly improved user experience. Integrating this new technology will transform Thomson Reuters solutions and enable customers to get their work done faster. Thomson Reuters is prioritizing its legal product suite, including Westlaw Precision, …
- June 8, 2023
- Carrie Brooker
Q1 2023 Thomson Reuters Law Firm Financial Index: Top Takeaways
The law firm market rebounded in the first quarter due to improved growth and surging rates, according to the Q1 2023 Thomson Reuters Law Firm Financial Index (LFFI) powered by Financial Insights. However, the Thomson Reuters report noted that the recovery was uneven and uncertainty remains as to the direction of the market going forward. …
- May 8, 2023
- Carrie Brooker
ChatGPT and Generative AI in Law Firms: Top Takeaways
Everyone is talking about ChatGPT and generative AI, but are legal professionals actually using them? ChatGPT & Generative AI within Law Firms, a new report from Thomson Reuters, examines legal professionals’ attitudes towards these emerging technologies. Based on surveys conducted in March of law firms in the United States, UK, and Canada, the report measures …
- April 25, 2023
- Carrie Brooker