Shares of Thomson Reuters (TSX/NYSE:TRI) climbed 12% on Tuesday after the company disclosed that its CoCounsel artificial intelligence platform has been adopted by one million professionals spanning 107 countries.
The company characterized CoCounsel as a professional-grade AI service that has gained meaningful traction among practitioners in legal, risk, compliance, tax, accounting, audit and global trade roles. Thomson Reuters said CoCounsel underpins intelligent features across its product lineup, including CoCounsel Legal, CoCounsel Tax and Audit, and ONESOURCE+.
Thomson Reuters also noted that CoCounsel Legal was highlighted during an event for Anthropic's Claude, which announced updates to plugins and connectors. The company said CoCounsel Legal was presented as a purpose-built legal agent reimagined through the Claude Agent SDK.
Steve Hasker, President and Chief Executive Officer of Thomson Reuters, emphasized the shift in professional attitudes toward AI, stating, "Professionals are not deciding whether to use AI anymore. They are deciding which AI they trust when their reputation and their clients' data are on the line. CoCounsel is built for moments when being almost right is not good enough."
Thomson Reuters described CoCounsel as designed to integrate with existing professional tools, to analyze licensed content developed over 175 years, and to produce citation-backed outputs. The firm said more than 4,500 Thomson Reuters subject matter experts help validate and refine CoCounsel's outputs across legal, tax and compliance areas.
Looking ahead, Thomson Reuters said the next generation of CoCounsel Legal will enter beta in the near term. The company said the beta will include conversational task execution capabilities: legal professionals will be able to describe objectives, after which CoCounsel will construct a plan, retrieve authoritative material from Westlaw and Practical Law, and provide a structured work product. Thomson Reuters also indicated that additional capabilities for CoCounsel Tax and ONESOURCE+ are planned for later in 2026.
Summary
Thomson Reuters reported that CoCounsel AI has reached one million professional users across 107 countries, prompting a 12% rise in the company's shares. The platform is deployed across legal, tax, audit, compliance and global trade tools, is supported by thousands of subject matter experts, and will soon enter a beta phase that adds conversational task execution for legal workflows.
Key points
- Thomson Reuters shares jumped 12% after the company said CoCounsel has been adopted by one million professionals in 107 countries.
- CoCounsel powers features across CoCounsel Legal, CoCounsel Tax and Audit, and ONESOURCE+ and is supported by more than 4,500 subject matter experts.
- The next-generation CoCounsel Legal will enter beta soon, adding conversational task execution and the ability to retrieve authority from Westlaw and Practical Law; further CoCounsel Tax and ONESOURCE+ capabilities are planned later in 2026.
Risks and uncertainties
- Market reaction to the adoption milestone contributed to a sizeable share-price move, indicating potential volatility in TRI's stock tied to product announcements and adoption metrics - this affects equity and technology-sector investors.
- Planned features for CoCounsel Legal will enter beta soon, and their ultimate performance and user acceptance remain to be demonstrated - this represents execution risk relevant to legal and software markets.
- Further capabilities for CoCounsel Tax and ONESOURCE+ are scheduled for later in 2026, so timing and delivery could impact product road maps and client implementations in tax, accounting and compliance functions.
Context and product details
Thomson Reuters said CoCounsel integrates into professionals' existing tools and leverages a corpus of licensed content accumulated over 175 years to provide outputs backed by citations. The company highlighted the role of more than 4,500 internal subject matter experts who contribute to validating and refining CoCounsel's results across domain areas such as legal, tax and compliance.
The company also pointed to an appearance for CoCounsel Legal at an event for Anthropic's Claude, where CoCounsel Legal was shown as a purpose-built legal agent using the Claude Agent SDK. Thomson Reuters described the upcoming CoCounsel Legal beta as enabling users to articulate objectives, have CoCounsel generate a plan, fetch authority from Westlaw and Practical Law, and return structured work product. Additional CoCounsel Tax and ONESOURCE+ enhancements are planned to arrive later in 2026.
Investment tool note
The article referenced a third-party screening tool called ProPicks AI, which evaluates companies including TRI using a range of financial metrics and identifies stocks based on fundamentals, momentum and valuation. The tool was described as generating stock ideas and noting past winners, and readers were invited to check TRI's presence in ProPicks AI strategies.