02-06-2025
- Business
- The Market Online
Thomson Reuters takes leap into agentic AI
Thomson Reuters (TSX:TRI), a leading media and and technology company, has taken the leap into agentic AI with the launch of CoCounsel, a tax, audit and accounting assistant
The new technology, partially powered by OpenAI, is capable of planning, reasoning, acting and reacting within real-world workflows
Thomson Reuters provides specialized software and insights for legal, tax, accounting, compliance, government and media professionals
Thomson Reuters stock has added 17.55 per cent year-over-year and 172.97 per cent since 2020
Thomson Reuters (TSX:TRI), a leading media and and technology company, has taken the leap into agentic AI with the launch of CoCounsel, a tax, audit and accounting assistant. The product, partially powered by OpenAI, is capable of planning, reasoning, acting and reacting within real-world workflows.
CoCounsel, sharpened by insights from legal and tax, audit and accounting experts, promises professional results, though it still requires a human to sign off on final decisions. Nevertheless, early client results have been impressive.
'Before CoCounsel, we were manually comparing residency and filing codes across 36 states. Each jurisdiction used to take us half a week to fully review—now it takes under an hour,' Rich Marlatt, chief information officer at BLISS 1041, said in a statement. 'We built our own templates in CoCounsel for 1,041 returns across 50 states and now due to agentic research and reusable templates, we can feed client-specific factors and instantly understand how each state handles them.'
Thomson Reuters' next launch under its agentic AI platform will be Ready to Review, a tax prep application built on the GoSystem Tax Engine, designed to draft returns, adapt to feedback and autonomously resolve inconsistencies.
Looking our farther head, the company intends to deliver agentic upgrades across its legal, compliance and risk and trade offerings, covering everything from employment policy generation to deposition analysis to compliance risk assessments.
Thomson Reuters' agentic AI platform, kick-started by its 2024 acquisition of Materia, an AI startup specializing in tax and accounting systems, is driven by a strategy of 're-architecting core product experiences,' according to Monday's news release, which the company defines as 'drawing from the most critical features and content across platforms such as Checkpoint, Westlaw and Practical Law… enabling them to act and reason within already accepted industry best practices… and supercharging them with generative AI.'
The company has been net income profitable, though inconsistently, since 2020, while generating annual revenue growth throughout the period. Management's guidance for 2025 includes increases in both revenue and free cash flow. Leadership insights
'Agentic AI isn't a marketing buzzword. It's a new blueprint for how complex work gets done,' David Wong, chief product officer at Thomson Reuters, said in a statement. '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.'
'We're not just rebranding AI assistants. We're engineering full agentic systems — backed by trusted content, custom-trained models and real domain expertise,' Wong concluded. '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.'
'As more platforms launch agentic capabilities, OpenAI is thrilled to power use-cases like the ones Thomson Reuters is bringing to its vast ecosystem of professional users,' added Olivier Godement, head of product platform at OpenAI. About Thomson Reuters
Thomson Reuters provides specialized software and insights for legal, tax, accounting, compliance, government and media professionals.
Thomson Reuters stock (TSX:TRI) is down by 0.89 per cent trading at C$270.24 as of 11:11 am ET. The stock has added 17.55 per cent year-over-year and 172.97 per cent since 2020.
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