At what was billed as an Innovation Summit in its Times Square headquarters Thomson Reuters Legal briefed journalists, bloggers and analysts on two products it is unveiling at Legaltech New York this week and also offered tantalizing hints of a product it is developing using the cognitive computing power of IBM’s Watson, the computer that once won Jeopardy!.
The two products it announced were eDiscovery Point, which TR executives positioned as a market-changing platform that is faster and easier to use than other e-discovery products on the market, and Practice Point, a product that straddles two other TR products, Practical Law and Westlaw, and strives to deliver the content from both that is most relevant to a given task or legal issue. There are versions of Practice Point for both law firms and in-house counsel.
No Robo Lawyers: With regard to IBM Watson, TR executives provided only crumbs of details. Last October, TR announced that it had entered into a multi-year agreement with IBM to use the Watson technology to develop and enhance products across all its divisions, not just legal. But TR Legal will be the first to release a product that has Watson “under the hood,” according to Erik Laughlin, managing director, Legal Managed Services and Corporate Segment, and head of the Watson Initiative.
The product will help users untangle the sometimes-confusing web of global legal and regulatory requirements and will be targeted at customers in corporate legal, corporate compliance and law firms. Initially, it will focus on financial services, he suggested, but will also address other domains important to corporations.
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Source: Thomson Reuters