Thomson Reuters Plans $8 Billion AI Investment Push
According to a Financial Times interview with CEO Steve Hasker, Thomson Reuters plans to invest $8 billion into artificial intelligence. The money comes from robust cash flow, minimal debt, and proceeds from the sale of its interest in the London Stock Exchange Group.
Hasker described the financial position as “tremendous firepower” that will fuel the company’s growth in AI-driven professional services.
Annual AI Spending to Exceed $100 Million
Beyond the $8 billion reserve, Thomson Reuters will invest over $100 million yearly to develop proprietary AI tools for clients. The focus will be on legal and accounting professionals, helping them enhance productivity through AI-enhanced research and automation tools. The company had just completed a transformation into a tech-driven content provider when generative AI introduced new opportunities.
Hasker said the exact impact of AI on client spending is “very unclear,” but he sees it as a tailwind. He acknowledged that market demand is still evolving, but the technology’s influence is already reshaping customer expectations and workflows.
Also read: Nvidia CEO Discusses Huawei's AI Capabilities with US Lawmakers
AI Seen as a Co-Pilot, Not Replacement
In 2023, Thomson Reuters launched AI tools for its legal research platform, Westlaw Precision, to streamline complex legal queries.These updates aim to help lawyers answer difficult questions quickly while improving workflow speed and research accuracy.
Despite growing interest, the legal industry remains divided about its readiness for widespread AI integration.
Still, many experts see AI as a supplement, not a substitute, for human professionals in law and accounting.James Clough, CTO of Robin AI, said AI won’t replace lawyers, but lawyers using AI will outperform those who don’t. It is like a copilot, not a replacement.
