Thomson Reuters Invests in Artificial Intelligence

Thomson Reuters announced today, Tuesday, higher than expected sales and operating profits for the first quarter, supported by the liquidation of investments and high customer retention rates, as it plans to increase investment in artificial intelligence. Total revenue rose four percent in the first quarter to $1.738 billion, exceeding expectations, according to Refinitiv estimates. CEO Stephen Hasker stated that Thomson Reuters intends to spend about $100 million annually to invest in artificial intelligence. The company's CFO Michael Eastwood mentioned in an interview that the $100 million amount is separate from the budget for mergers and acquisitions being undertaken by Thomson Reuters, which will reach about $10 billion from now until 2025. Over the past three years, the company has allocated nearly its entire merger and acquisition budget to artificial intelligence, and executives believe this trend will continue. AI features will be integrated into most of the major business segments, including legal, tax, accounting, and news activities.