CoCounsel, the AI legal assistant developed by Casetext, has had a dynamic first year since its launch on March 1, 2023. In the wake of impressive growth and exciting new market expansions, Thomson Reuters (TR) reveals details on the product’s U.S. adoption to date. Casetext first introduced CoCounsel, a tool empowered with OpenAI’s GPT-4 large language model, to assist lawyers with day-to-day tasks.
Merely four months later, the novel offering caught the attention of TR, leading to a massive acquisition of Casetext for $650 million. TR swiftly revealed its intention, just four months post-acquisition, to integrate CoCounsel across its primary products, including Westlaw Precision, Practical Law, Document Intelligence, and HighQ. Concurrently, CoCounsel was to be offered as a standalone product under the name CoCounsel Core.
Continuing its growth trajectory, TR has now officially announced the expansion of CoCounsel Core to Canada and Australia, marking its first product expansion to English-speaking countries outside the U.S. As Jake Heller, the original cofounder of Casetext and current head of product at CoCounsel, TR would say, this achievement represents a significant milestone as we approach the one-year anniversary of CoCounsel’s debut.
Alongside its global expansion, TR has provided some insights into the product’s U.S. adoption. Since its launch, CoCounsel has made its way to over 45 major U.S. law firms, including six of the Am Law 10, accounting for a total of over 50,000 lawyers. More than 9,000 of these professionals have received exhaustive hands-on training to use the technology effectively and ethically, a feat achieved with a training staff of just four people. Demonstrating the scalability of this “rollout playbook” for CoCounsel, TR plans to rapidly expand this training initiative.
In its new markets, Canada and Australia, CoCounsel has already been put to use in a proof-of-concept phase at two legal firms: McCarthy Tétrault LLP in Canada and Maddocks in Australia.
CoCounsel Core offers customers eight core generative AI-powered legal skills: The ability to Prepare for a Deposition, Draft Correspondence, Search a Database, Review Documents, Summarize a Document, Extract Contract Data, Ensure Contract Policy Compliance, and construct a Timeline.
The full article can be accessed here.