CoCounsel by Thomson Reuters

CoCounsel is a generative AI assistant developed by Thomson Reuters (formerly known as Casetext) that provides an integrated AI solution for professionals in law, taxation, audit, and accounting. Its primary value lies in significantly enhancing the efficiency and accuracy of routine professional tasks, allowing experts to focus on strategic aspects of work and decision-making. The tool utilizes advanced language models, specifically fine-tuned on extensive corpora of legal and financial documents, ensuring high reliability and relevance of results.

Key capabilities include conducting comprehensive legal research with analysis of case law and legislation, reviewing and analyzing contracts for risks and compliance, automatically extracting key facts and provisions from voluminous documents, preparing procedural documents, requests, and legal opinions, as well as verifying citations and sources. The assistant can answer complex questions requiring deep contextual understanding and generate structured reports based on provided data.

A distinctive feature of CoCounsel is its deep integration with Thomson Reuters' professional databases and workflows, including Westlaw and Practical Law, guaranteeing work with current and verified information. Technically, the tool is built on a secure and confidential platform that ensures client data protection. It is available as a web application and can integrate into existing systems via API, supporting teamwork and centralized project management. The assistant's solutions are transparent and accompanied by source references, which is critically important for professional verification.

Ideal for law firms, corporate lawyers, compliance specialists, accountants, and auditors. Use cases include accelerated preparation for litigation, due diligence in mergers and acquisitions, daily analysis of regulatory changes, financial statement audits, and automation of standard contract drafting. The tool is particularly valuable for processing large volumes of documentation where maximum accuracy and minimization of human errors are required.