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Thomson Reuters recently unveiled its comprehensive strategy for generative artificial intelligence (AI).
This multi-year, multi-million global investment strategy encompasses everything from product development, strategic acquisitions, and partnerships — as well as upskilling initiatives for its global workforce.
Notably, the company revealed that it has integrated generative AI enhancements into its flagship product, Westlaw Precision. The product is adding new AI-assisted research capabilities, including the ability to “ask complex questions in conversational language and quickly receive synthesized answer.”
Thomson Reuters has also pursued strategic acquisitions to improve its generative AI capabilities. This includes the acquisition of Casetext, a legal technology company, and SurePrep, a tool for U.S. accounting firms. Thomson Reuters states that the goal of these acquisitions is to drive greater productivity, impact, and efficiency for legal and tax professionals.
The company revealed that it is also actively investing in programs to upskill its 26,000 global colleagues in AI — ensuring they are equipped to navigate the evolving AI landscape. This includes specialized learning pathways and the creation of its own “enterprise-wide large language model learning environment”, Open Arena.
This strategic move by Thomson Reuters suggests a broader trend in the workforce, where AI and technology are increasingly integrated into professional work to improve productivity and to better inform decision-making. In Thomson Reuters’ case, the company strongly believes that technology will play a major role in the workforce moving forward, announcing plans to invest more than $100 million a year in generative AI.
As generative AI and AI tools continue to rise in popularity, it is likely that more companies will adopt similar strategies — investing in AI capabilities and upskilling their workforce to stay competitive and meet the demands of the modern professional landscape.
