Thomson Reuters Launches Agentic AI Platform for Legal and Tax Professionals

2 Sources

Thomson Reuters introduces Agentic Intelligence, an AI platform designed to automate complex workflows for legal and tax professionals, starting with CoCounsel for tax, audit, and accounting tasks.

Thomson Reuters Unveils Agentic AI Platform

Thomson Reuters, a global leader in information services, has launched a groundbreaking artificial intelligence (AI) platform called Agentic Intelligence on June 2, 2025. This innovative system is designed to revolutionize complex workflows for professionals in various fields, starting with the legal and tax sectors 1.

Source: PYMNTS

Source: PYMNTS

Understanding Agentic AI

Agentic AI represents a significant leap forward from traditional AI assistants. Unlike systems that simply respond to prompts, agentic AI can plan, reason, act, and react within real workflows. David Wong, Chief Product Officer at Thomson Reuters, emphasized, "Agentic AI isn't a marketing buzzword. It's a new blueprint for how complex work gets done" 1.

The platform has been in development for over a year and is now integrated into Thomson Reuters' legal, tax, risk, and compliance platforms. It leverages features and content from established products like Checkpoint, Westlaw, and Practical Law 1.

CoCounsel: The First Agentic AI Experience

The initial offering from the Agentic Intelligence platform is CoCounsel for Tax, a tool designed for tax, audit, and accounting professionals. CoCounsel automates complex tasks such as client file review and memo drafting, integrating firm knowledge, Checkpoint resources, IRS code, and internal documents into an AI-guided workspace 2.

Kevin Merlini, Vice President of Product at Thomson Reuters and former CEO of Materia (an AI copilot startup acquired by Thomson Reuters), stated, "This isn't GenAI in a prettier wrapper -- it's a fully integrated, intelligent system built to do the work" 1.

Early Success and User Feedback

Source: Dataconomy

Source: Dataconomy

Early adopters of CoCounsel have reported significant efficiency gains. Rich Marlatt, Chief Information Officer at BLISS 1041, shared that the tool reduced the review time for residency and filing codes across 36 states from half a week to under an hour. Marlatt explained, "We built our own templates in CoCounsel for 1041 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" 1.

Future Developments and Expansion

Thomson Reuters has ambitious plans for expanding its agentic AI offerings. The next product in the pipeline is Ready to Review, an agentic tax prep application built on the GoSystem Tax Engine. This tool will be capable of drafting returns, adapting to feedback, and resolving diagnostics independently 1.

The company aims to extend agentic systems across legal, risk, and compliance domains throughout 2025. Future applications will include intelligent workflows for drafting, policy generation, deposition analysis, and risk assessments 2.

Technological Foundation and Partnerships

Thomson Reuters' Agentic Intelligence platform is built on a robust foundation of data and expertise. The company boasts over 20 billion documents, 15 petabytes of data, and 500 content assets. It employs 4,500 subject matter experts and 180 AI engineers, serving over 500,000 customers, including the Fortune 100 and the U.S. federal court system 1.

The platform benefits from deep integrations with leading AI companies, including OpenAI, Anthropic, AWS, and Google. Olivier Godement, Head of Product, Platform at OpenAI, expressed enthusiasm for the collaboration, stating, "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" 1.

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