THOMSON REUTERS AND BLUE J LEGAL DELIVER ARTIFICIAL INTELLIGENCE-BASED TAX FORESIGHT
Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, and Blue J Legal today announced an exclusive joint initiative to bring Tax Foresight, a new suite of artificial intelligence-based tax case outcome predictors to Canadian corporate tax professionals, tax preparers, accountants and tax lawyers.
Tax Foresight leverages the power of machine learning and artificial intelligence enabling practitioners to rapidly predict in advance how courts will rule in new tax situations, based on facts provided by users and analysis of prior judicial decisions.
Canadian tax and legal professionals can now access trusted primary law and guidance tools on the Thomson Reuters Taxnet Pro platform to identify specific tax issues, and use Tax Foresight to anticipate how the courts will rule in new situations, saving hours of time-intensive analysis. Blue J Legal has analyzed thousands of combinations of fact scenarios in tax cases, along with the eventual results of those cases, in order to build the Tax Foresight legal outcome prediction engine. This prediction engine enables practitioners to simulate, with much greater speed and confidence, how courts will rule in new situations.
“It can be extraordinarily difficult and time consuming to analyze case outcomes when there are many different fact scenarios at play, until you apply artificial intelligence,” said Neil Sternthal, managing director for Thomson Reuters Canada, Australia and New Zealand legal business. “By leveraging the AI capabilities of Tax Foresight, our customers harness technology to maximize their time and accurately vet possible court rulings to provide stronger, more timely business advice, to clients.”
“Blue J Legal is thrilled to partner with Thomson Reuters to deliver the powerful insights of machine learning and artificial intelligence to market for accounting and legal professionals,” said Benjamin Alarie, chief executive officer for Blue J Legal. “Tax Foresight allows professionals to access legal answers and authoritative legal materials quickly and with more sophistication than ever before.”