The Globe and Mail reports in its Thursday, Aug. 7, edition that Thomson Reuters posted a 3-per-cent increase in second quarter revenue to $1.79-billion (U.S.), matching analysts' estimates, as it launched advanced artificial intelligence tools for legal, tax and accounting customers. The Globe's James Bradshaw writes that excluding foreign currency effects and asset deals, revenue grew 7 per cent year-over-year. The company has introduced new products featuring "agentic" AI assistants that can handle complex tasks with minimal human intervention. On Tuesday, Thomson Reuters launched an AI assistant with new features, called CoCounsel Legal, which the company says is able to do deeper research and complete tasks with multiple steps, such as drafting legal complaints or company policies.
The company has also been testing a tax and accounting product to release later this year with AI that could fill out an entire first version of a tax return without any human intervention. Much of the boost to revenue that Thomson Reuters expects from the new products, which come with price increases, is yet to come. Clients such as law firms and accounting practices are in the early stages of testing the new tools.
© 2025 Canjex Publishing Ltd. All rights reserved.