July 12, 2021
Thomson Reuters Introduces Practical Law Dynamic Tool Set
New generation of legal know-how, powered by AI, graphical navigation
NEW YORK, LONDON, July 12, 2021 – Thomson Reuters has introduced Practical Law Dynamic Tool Set, its next-generation, technology-driven features in Practical Law that use AI and dynamic graphical navigation to help legal professionals work better and more quickly, and with greater confidence.
“By putting AI, analytical tools and proprietary visual navigation technologies in service to our attorney-authored content, we’ve created entirely new capabilities to help our customers thrive during this time of rapid change,” said Paul Fischer, president of the Legal Professionals segment of Thomson Reuters. “Practical Law Dynamic Tool Set has become our latest cairn, marking our path to becoming a true content-driven technology company.”
Legal professionals have long turned to Practical Law for expert, attorney-authored resources to quickly find answers they can trust. With Dynamic Tool Set, users can navigate Practical Law resources to discover and visualize content in new ways; find the most relevant answers and know-how – like practice notes, checklists and articles – more quickly; compare content across multiple jurisdictions; analyze market trends at a glance; and plan and manage matters with quick customizable views of the work to be done.
“We’ve taken what we’ve learned from nearly three decades of AI enablement and specifically tuning our technology to attorney-authored content in Westlaw Edge and applied it to a new proprietary editorial content set from Practical Law,” said Isabelle Moulinier, vice president and AI lead at Thomson Reuters Labs. “With more attorneys working remotely, the trusted advisor down the hall isn’t always there anymore, and legal professionals are relying on technology to provide that know-how and find the expert within themselves, supported by AI and data-driven insights.”
Practical Law Dynamic Tool Set includes five distinct new features, each of which allows users to extract more value from Practical Law content.
- Dynamic Search is a question-answering feature that combines the power of AI with the legal expertise of more than 600 global attorney editors, providing answers to legal research questions based on natural-language inquiries, along with links to relevant Practical Law content.
- Knowledge Map allows users to quickly navigate topics and resources by graphically exploring Practical Law content, from big picture to individual documents. First of its kind in the legal space, Knowledge Map offers a unique way for users to gain quick insights into their matter and helps them find relevant resources they may have otherwise missed.
- Quick Compare allows Practical Law users to create charts that evaluate key questions or concepts across jurisdictions. Users can leverage pre-built charts, or build and customize their own according to jurisdiction, topic or data point.
- Interactive Matter Maps provide a graphical overview of the phases and core tasks necessary for the planning, management and execution of a legal matter. Created by Practical Law expert editors, Matter Maps provide links to key Practical Law resources supporting each task, and they are customizable so users can build their own map – completing the tasks they need and skipping the ones they don’t.
- What’s Market Analytics allows users to easily explore market trends, and instantly create data-driven insights and visualizations, such as charts and graphs of key terms in documents and agreements or comparisons of recent filings.
Fischer added, “More than ever, clients are looking to firms to deliver legal services differentiated by value and efficiency, and a big takeaway from the past year is that the right technology and access to expert legal know-how – whether in the office or working remotely – is critical to sustaining a legal business.”
View the Practical Law Dynamic Tool Set features here, and learn more about Practical Law here.
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world’s most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.