9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
Media firm Thomson Reuters will buy Casetext, a legal startup with an artificial intelligence (AI) assistant, for $650 million. This was reported by Reuters, Ukrinform reports. One of
This was reported by Reuters, Ukrinform reports.
One of Casetext’s core products is CoCounsel, an artificial intelligence legal assistant released in 2023 based on GPT-4. Thomson Reuters said in a statement that it provides document review, legal research notes, application preparation and contract analysis within minutes.
Casetext gained access to the comprehensive language model GPT-4, which allows OpenAI to develop new technology-based solutions and improve use cases for lawyers.
California-based Casetext has 104 employees and its clients include more than 10,000 law firms and corporate law departments.
Steve Husker, President and CEO of Thomson Reuters, said the acquisition of Casetext is another step in providing customers with productive AI solutions.
Generative AI is a type of artificial intelligence that generates new content or data in response to a user prompt or question.
The deal is expected to be completed in the second half of 2023, subject to regulatory approvals.
Earlier, Thomson Reuters’ chief financial officer, Michael Eastwood, said the company plans to invest around $100 million a year in artificial intelligence.
Source: Ukrinform
As an experienced journalist and author, Mary has been reporting on the latest news and trends for over 5 years. With a passion for uncovering the stories behind the headlines, Mary has earned a reputation as a trusted voice in the world of journalism. Her writing style is insightful, engaging and thought-provoking, as she takes a deep dive into the most pressing issues of our time.
