TR’s CoCounsel Hits 1 Million Users Despite Claude Crash

Thomson Reuters is saying that ‘one million professionals have chosen CoCounsel, across 107 countries and territories’. This is for all of its legal, risk, compliance, tax, accounting, audit and global trade offerings, which CoCo operates through. The news comes as TR’s share price saw a drop over the last month – not helped by the recent Claude Crash. But….see below, today’s news seems to have worked wonders…!

Here is the TR share price as of 2PM GMT, Feb 24.

And now here (below) is the share price at 3PM GMT on the same day, after the 1m users news has filtered through the markets. As you can see, there is a 10.25% rise, after what before had been a drop of over 34% compared to one month previously.

They also pointed out ‘more than 4,500 Thomson Reuters subject matter experts contribute to the validation and continuous refinement of CoCounsel’s outputs across legal, tax, and compliance domains’.

So, again TR is pointing out their value, i.e. not just oodles of data, but data that has been carefully curated – and this is accessible via its CoCo AI powers.

David Wong, Chief Product Officer, Thomson Reuters, commented: ‘One million CoCounsel users across 100+ countries and territories reflects a shared global consensus.’

Is this a big deal?

Well, the fact that TR feels it needs to tell the world it’s very successful suggests that the Claude Crash and greater AI-driven competition is having an impact.

And as the two charts show, perhaps this PR strategy is working…at least for the share price.

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Note: this is not financial advice. This is a news and commentary article only.