Thomson Reuters introduces agentic AI CoCounsel
Content-driven technology conglomerate Thomson Reuters has launched its agentic AI platform, CoCounsel, for tax, audit, and accounting professionals.
Unlike conventional AI assistants, agentic AI systems can plan, reason, act, and react within real workflows, completing complex, multi-step tasks with the required transparency, precision, and accountability, states the company.
Thomson Reuters chief product office David Wong said: 'Agentic AI isn't a marketing buzzword. It's a new blueprint for how complex work gets done.'
'We're delivering systems that don't just assist but operate inside the workflows professionals use every day. The AI understands the goal, breaks it into steps, takes action, and knows when to escalate for human input — all with human oversight built in to ensure accountability and trust."
Developed over a year and bolstered by the acquisition of Materia, the AI copilot startup, Thomson Reuters agentic platform is now live across products used by some of the accounting firms in the US.
These systems are integrated into legal, tax, risk, and compliance platforms, designed for high-stakes environments where accuracy and trust are paramount.
Instead of creating standalone tools, Thomson Reuters is re-architecting core product experiences by leveraging content from Checkpoint, Westlaw, and Practical Law.
This strategy is claimed to enable the new agentic systems to act and reason within established industry best practices, enhanced with generative AI capabilities.
Wong added: 'We're not just rebranding AI assistants. We're engineering full agentic systems — backed by trusted content, custom-trained models, and real domain expertise.'
'What others are calling agentic, we've already had in the market. What we're launching now sets a new bar: this is what AI looks like when it's built with real content, trained with real experts, and trusted by the professionals who do real work.'
CoCounsel automates tasks such as client file review, memo drafting, and compliance checks, providing explainable outputs.
It unifies firm knowledge, Checkpoint, IRS code, and internal documents into a cohesive AI-guided workspace.
Early adopters are already stated to have been witnessing significant advantages from this innovation.
The company has said that the next product to be launched is Ready to Review, an agentic tax preparation application that redefines professional-grade AI.
Built on the GoSystem Tax Engine, it is purported to not only assist with tax returns but also draft them, adapting to feedback, and autonomously resolving diagnostics.
In February 2025, Thomson Reuters unveiled its second Corporate Venture Capital Fund, Thomson Reuters Ventures Fund 2, valued at C$150m ($104.58m). This fund will focus on early-stage technology companies within legal technology, tax and accounting, fintech, and other markets.
"Thomson Reuters introduces agentic AI CoCounsel" was originally created and published by International Accounting Bulletin, a GlobalData owned brand.
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