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Thomson Highlights AI Plans

Thomson Reuters focused heavily on artificial intelligence in its webcast for earnings for the year ended December 31. Although most of the activity in 2023 with generative AI involved its legal market products, the company said it will add such capabilities to its Checkpoint research platform this year.

Speaking during the webcast, CEO Steve Hasker did not provide additional detail on the Checkpoint plans. He also noted plans for adding generative AI to practice law.

In addition, he talked about the opportunities Thomson's pending purchase of Pagero, which makes e-invoicing products, represents for OneSource, its indirect tax platform. “The e-invoicing opportunity is significant with OneSource,” Hasker said. 

Revenue for the company’s Tax & Accounting division reached $1.1 billion in 2023, an increase of 7 percent from $986 million for 2022.  That  represented a 9-percent increase in constant currency and 10 percent organically.

Overall, the company’s revenuesrose 3 percent to $6.79 billion in the most recently ended year, up from $6.63 billion the prior year.

For the fourth quarter, revenue for Tax & Accounting was $344 million, up 6 percent from $326 million in last year’s corresponding period, rising 9 percent in constant currency and 10 percent organically.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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