The landscape of artificial intelligence (AI) legal technology is redefining how legal professionals conduct research and streamline their workflows. Thomson Reuters CoCounsel Core is the first generative AI legal assistant of its kind to hit the legal sector.
At its essence, this innovative AI legal assistant combines advanced search capabilities with an extensive legal database. The platform offers contextual search capabilities for case law, statutes, regulations and secondary sources.
Here are some practical use cases for this game changing legal technology:
What does CoCounsel Core do, and why is it revolutionary?
Gone are the days of dedicating many hours to legal research, drafting documents and contracts. CoCounsel Core can can summarise and annotate thousands of pages of documents very quickly.
The AI legal assistant has a unique conversational search to make interactions intuitive. This enables lawyers to submit written prompts and receive tailored legal answers specific to their cases or business. This not only expedites the research process but also enhances the quality of information obtained.
Catherine Roberts, Senior Director AI & Legal Tech for Thomson Reuters Asia & Emerging Markets, reflects on the revolutionary solution.
“Since its launch, Thomson Reuters has conducted more than 4,000 hours of extensive testing. Input from law firms, corporations, and government agencies has been integral to the process. The AI-assisted research is underpinned by its exclusive reliance on our vetted database to instil confidence in its accuracy. We are not only committed to upholding our own strong reputation, but also the reputations of our clients.”
The platform also offers integration with popular legal practice management and document automation tools to optimise their research process.
Elevate your practice with an artificial intelligence assistant
Fast becoming a cornerstone for elevating legal practices, CoCounsel offers a trusted and industry-leading technology. Lawyers can leverage the platform to increase efficiency and cut costs, accelerating and streamlining various legal processes and tasks.
Efficient processes are the most valued way of working. Over half (51%) of the private practice professionals (51%) surveyed in the Tech & the law 2023 report, believe so. Furthermore, 69% believe generative AI will improve workflow efficiency.
CoCounsel fosters collaboration by facilitating seamless information sharing among clients and colleagues. This collaborative approach enhances the overall efficiency of legal workflows. It also allows lawyers to focus on higher-value work that demands human expertise. This marks a paradigm shift in the way legal professionals approach their daily tasks.
How are lawyers using CoCounsel’s AI assistant?
CoCounsel Core is not just an AI assistant. It is a catalyst for legal professionals to elevate the efficiency and effectiveness of their daily tasks.
When it comes to legal research, the AI legal assistant provides lawyers swift answers to complex legal questions. Lawyers benefit from accelerated litigation tasks, such as efficient document reviews, and database searches. Additionally, lawyers can locate legally and factually similar cases and navigate intricate legal matters.
The generative AI assistant extends to contract management too. It provides a streamlined approach to extract key contract data, ensure policy compliance and draft contracts. It also transforms legal communication by automating document reviews and simplifying complex legal language.
Access core (AI) legal skills on demand
CoCounsel AI legal assistant currently has 10 core skills:
- Prepare for a deposition (suited to legal professionals practising in the United States). Quickly receive an outline of topics and questions for a deposition or witness interview.
- Search a database. Find a document in your database that addresses a particular topic or answers a particular question.
- Review documents. Perform a thorough, word-by-word review of a small set of documents to answer a set of questions.
- Summarise documents. Review a single or a set of long and complicated documents to extract relevant information.
- Draft contracts: With intelligent legal drafting capabilities to streamline the drafting process.
- Extract contract data. Prepare a word-by-word review of a set of contracts to answer specific questions.
- Contract policy compliance. Determine whether a set of contracts comply with specific policies or guidelines.
- Draft correspondence. Create professionally crafted legal emails or letters based on explicit instructions through natural language.
- Market check. Quickly analyse a database of contracts to identify trending terms so that lawyers can immediately draft, negotiate, and redline with confidence.
- Timeline. One of the most-requested capabilities to date, timeline quickly transforms an array of documents into a chronological series of events.
Can the AI assistant give legal advice?
CoCounsel Core doesn’t replace the nuanced expertise of a human legal professional. However, it serves as an invaluable resource for obtaining reliable legal information and improving the speed of legal research. Lawyers can confidently leverage the tool in consultations to obtain accurate responses. They can trust the output because it’s based on the most recent legal information.
Addressing safety and trust concerns
As with any AI-driven platform, concerns about safety and trustworthiness arise. The CoCounsel Core platform relies on legal libraries rather than combing the web’s vast and potentially unreliable content. The platform utilises established legal sources and enables users to upload reference materials for more tailored results. This commitment to reliability positions it as a secure and dependable tool in the legal tools arsenal.
AI legal tools can significantly enhance efficiency and automate certain tasks. However, there will always be a nuanced relationship between technology and human professionals.
As the adoption of generative AI tools gathers pace, it is more likely to reshape roles rather than replace them. Paralegals and junior lawyers who embrace technology and focus on developing complementary skills, will position themselves for growth and specialisation.
Legal AI unlocks opportunities
Rather than complete replacement, both paralegals and junior lawyers may see a shift in their responsibilities. As AI tools take over routine and time-consuming tasks such as document review and legal research, this will allow for more focus on higher-value tasks that require human intuition, creativity, and emotional intelligence. This may include client interaction, case strategy development, and complex problem-solving.
AI tools like CoCounsel Core can significantly increase the efficiency and productivity of legal processes. While this will reduce the need for humans to undertake routine tasks, it may also result in a higher volume of work overall. Paralegals and junior lawyers may find themselves managing more complex cases or spending more time with clients as a result of increased efficiency.
As AI takes over technical and data-driven tasks, the importance of soft skills in the legal profession may become more pronounced. Paralegals and junior lawyers with critical thinking and strong interpersonal skills are set to benefit from the AI revolution. They may find their roles evolving to emphasise their abilities that AI cannot replicate.