So, are we just going to keep layering AI onto existing legal tech until everything looks like a data-brokered mashup? Because that’s starting to feel like the prevailing strategy.
DealCloser, the transaction management outfit that apparently woke up to the LLM revolution sometime around 2020, has now inked a pact with Thomson Reuters to slurp in CoCounsel Legal’s AI document review smarts. The PR folks are spinning this as a move “away from fragmented workflows toward a connected, intelligent transaction environment.” Translation: We want lawyers to stop clicking around and buy our all-in-one widget.
And here’s the kicker: they’re not just plugging it in; they’re claiming it’s natively integrated, eliminating the need to, you know, actually upload documents to a separate tool. The genius of CoCounsel, according to DealCloser’s CEO Jag Dhariwal, is that it expands their existing AI Deal Assistant, Cloe. It’s all about “continuously integrating leading AI solutions.” More buzzwords, more money, presumably.
What does this ‘integration’ actually do for the user, beyond a prettier interface? Apparently, it offers “embedded document review,” “reusable AI skills” (read: canned prompts you can save), “in-workflow analysis” for all your pesky contracts and exhibits, and that old chestnut, “trusted, enterprise-grade AI.” Rigorously tested by legal pros, of course. For whom? The same ones who are probably already drowning in vendor demos.
Is This Just Another AI Feature Drop?
This comes hot on the heels of iManage announcing their own AI contract review play. It’s becoming a deluge. Every deal-making, document-storing, or practice-management platform is suddenly adding an AI coat of paint. Why? Because the foundation models themselves, plus broad productivity suites, are getting so good they’re starting to look like they could swallow up all these niche legal tech point solutions. The fear is real, and the scramble to become a “broad productivity platform” is on.
By stuffing more capabilities under one brand, the hope is that lawyers will stay put. Keep their attention. Make the platform stickier. It’s a classic land-grab strategy in the legal tech space, amplified by the AI gold rush. And let’s be honest, it also keeps Thomson Reuters’ CoCounsel in front of more eyeballs, potentially steering DealCloser users away from competitors.
But here’s the cynical old tech journalist’s take: Lawyers are a notoriously conservative bunch when it comes to their tools. Once they find one AI contract review tool they don’t hate, they’ll probably stick with it. Whether that’s a standalone marvel, a chunky platform behemoth, or something cobbled together via open-source and direct LLM access, it doesn’t really matter to the end-user. Choice, while advertised as a benefit, often leads to user fatigue and loyalty to the few that actually get it right.
‘With the recent launch of Cloe, [our] AI Deal Assistant, we’ve defined a new category of transaction management where analysis, collaboration, and execution are unified in a single system. Bringing CoCounsel, Thomson Reuters AI technology, into that system expands those capabilities and reflects our commitment to continuously integrating leading AI solutions to further support our customers.’
The core question remains: Who is actually making a killing here? DealCloser is clearly betting its future on becoming the central nervous system for deal-making, and Thomson Reuters is looking to expand the reach of its AI offerings beyond its own established channels. It’s a partnership, sure, but one where both parties are looking to lock in users and fend off the inevitable commoditization.
The Platform Play: Why This Matters for Deal Lawyers
For lawyers deep in transactions, this integration means fewer context switches. Analyzing contracts, identifying risks, and flagging obligations can happen directly within the DealCloser environment where deal progress is tracked and tasks are managed. The idea is to streamline the process, reducing the time spent manually transferring information between different software. It’s the promise of efficiency, a siren song in the legal profession. Whether it delivers on that promise without introducing new complexities or hidden costs is, as always, the real test.
The legal tech landscape is awash with AI contract review tools. We’re talking dozens, if not hundreds, of options. This DealCloser-CoCounsel integration is just another ripple in that massive pond. The real winners will be the platforms that can prove tangible value, beyond the shiny AI veneer, and that can integrate these powerful tools without making their users feel like they’re piloting a spaceship with a faulty dashboard.
