The arena of online legal research, historically dominated by legacy players such as Thomson Reuters and LexisNexis, is regularly welcoming new entrants. One such firm, Casetext, recently came into prominence for its innovative strides in generative AI, with its legal tech tool, CoCounsel, being the first to publicly incorporate OpenAI’s GPT-4 large language model (LLM).
The importance of Casetext in the marketplace was underscored when Thomson Reuters recently agreed to acquire it for a significant $650 million in cash. This acquisition raised questions about the future impact of generative AI on legal research, prompting a deeper discussion within the industry.
Please visit the full article for more detailed insights into the perspectives of LexisNexis and Thomson Reuters on issues such as which LLMs to use, build versus buy approaches, mobilizing AI talent, and more.