Thomson Reuters' $100M yearly investment plan - financial strength and AI innovation
1 mins
Published by: Nazarii Bezkorovainyi
21 March 2024, 02:32PM
Thomson Reuters Corp is investing $8 billion in AI expansion, targeting acquisitions and investments.
CEO Steve Hasker emphasizes AI's potential for providing information to professionals like lawyers and accountants.
The company plans to allocate over $100 million yearly to develop AI technology for legal, tax, and accounting sectors.
Despite recent transformation, Hasker views generative AI as transformative, but acknowledges unpredictable customer spending shifts.
Thomson Reuters aims to diversify revenue sources, eyeing growth in regions like Brazil, Mexico, southeast Asia, and Japan.
Thomson Reuters' $100M Yearly Investment Plan - Financial Strength And AI Innovation
Thomson Reuters Corp is preparing for a significant expansion in artificial intelligence (AI) with $8 billion set aside for acquisitions and investments.
CEO Steve Hasker highlighted the company's belief in AI's potential for its core business of providing information to professionals like lawyers and accountants.
Hasker mentioned the financial strength from existing operations, a lightly leveraged balance sheet, and the upcoming sale of its remaining stake in the London Stock Exchange Group (LSEG).
Thomson Reuters plans to allocate over $100 million annually to develop its proprietary AI technology, focusing on legal, tax, and accounting sectors.
Despite recent transformation into a "content-driven" technology company, Hasker sees generative AI as transformative once again, though customer spending shifts due to AI remain unpredictable.
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