Jan 02, 2025 | AI

Helping our customers achieve their desired outcomes while using Thomson Reuters products, solutions and services is at the core of what we do. We continually talk with our customers to learn firsthand about their experiences and how Thomson Reuters can apply cutting-edge technology to solve their biggest pain points.  

These conversations are more important than ever as generative AI becomes more widely implemented across the legal industry. As our customers’ – and their clients’ – expectations change, it’s crucial that we’re closely aligned with their collective needs.  

With this mind, Thomson Reuters and Lexpert hosted a panel featuring law firm leaders and industry experts discussing the challenges and trends around the use of generative AI in the legal profession. Below are insights from an engaging and informative discussion. 

Lawyers are excited to implement generative AI solutions 

Law firms may not have a reputation as early adopters of technology, yet many firms are already using generative AI solutions. David Cohen, senior director, client service delivery, McCarthy Tétrault, noted his firm’s response when it rolled out CoCounsel, the professional-grade GenAI assistant, a year ago.   

​“We put a call out for people to sign up and get a license, and the 175 seats were immediately filled,” Cohen said. “There was a wait list where people were pleading to get access to the tool – there’s certainly a lot of interest and excitement at our firm.”  

Panelists noted how firms are increasingly implementing AI for drafting legal documents as well as for predictive analytics and other complex tasks. 

Cohen said McCarthy Tétrault is using AI for higher-value work, including in litigation matters to scan data troves and identify where the firm has been successful in the past.   

​“We’re very interested in how we get a strategic advantage,” Cohen said. “What arguments were used, what makes for a successful pleading – that’s something we can leverage.”   

​Rikin Morzaria, principal at Kinara Law, said he’s “experimenting with and finding solutions that work long term,” including using AI for advanced tasks such as drafting memos or reviewing his own work to identify potential areas for improvement. 

​“I treat it as something that would be submitted by a student or an intern, that needs to be reviewed again,” Morzaria said. “It ultimately produces a better product for me in the end.” 

​Unfounded concerns about robot lawyers 

Panelists shared their perspectives on generative AI solutions augmenting, not replacing, humans. 

“AI doesn’t have human insight or instincts, it doesn’t know the client, it can’t read a room,” said Valerie McConnell, senior director of CoCounsel Customer Success at Thomson Reuters. “How lawyers allocate their time will shift: the hope and expectation is when we clear their plates, they’ll have the space to think about strategic angles.” 

​This brought up how firms’ use of AI is changing talent management. Cohen noted that McCarthy Tétrault revamped its training program to incorporate the integration of AI into its workflows and processes. 

​“Having best-in-class prompts that are shared and available to our lawyers is something we certainly weren’t discussing a couple years ago,” Cohen said.   

​Changing billing practices and elevating services 

Panelists noted that generative AI is changing how lawyers bill their clients. They discussed an example of litigators relying more on flat-fee billing because they know they can handle certain aspects of a matter more quickly.   

​“Your time in a discovery, trial, or mediation won’t change, but a lot of that time leading up to it will,” Morzaria said. “That allows you to work more efficiently and take on work that may not have been feasible before.”   

Panelists also shared how generative AI is helping firms elevate their services. They called out how firms in the litigation space are using it to surface key evidence, while firms on the transactional side are using it for contract review.  

Managing and mitigating risks 

Panelists discussed how firms are addressing concerns around emerging technologies including accuracy and privacy. Cohen noted firms are focusing on “achieving the right balance where we’re generating benefits for our clients but also managing and mitigating the risks.”  

McConnell emphasized that AI is not a replacement for a lawyer’s oversight. She recommended that firms create an AI policy, use a secure software platform that allows lawyers to easily verify output and doesn’t train on firm data, and provide employee training on responsible AI use.   

Generative AI is shaping the future of law, and its impact on the legal profession will be even greater in 2025 and beyond. As the market matures, legal professionals will not just desire but require AI capabilities for their workflows. Innovative firms at the forefront, including Kinara Law and McCarthy Tétrault, are best positioned to capitalize on the potential of this transformative technology to better serve their clients. 

​Check out highlights of the panelists’ conversation and listen to their full discussion here. 

This is a guest post from Raghu Ramanathan, president, Legal Professionals, Thomson Reuters.