Canadian Lawyer

Richter, we actively look for what's next. We don't rest on our laurels. We continue to evolve as a firm and to adapt to a changing world by eval- uating technologies and making sure we're staying ahead of the curve." On the benefits Schwartz sees in AI, she says, "Artificial intelligence enables you to analyze and synthe- size information so that you can speak to your clients in more clear and concise terms." In addition, AI adoption is helping firms such as Richter streamline their legal research challenges. One such software that's helping address these challenges is Tax Foresight, a joint initiative between Blue J Legal and Thomson Reuters. The software helps tax practitioners predict in advance how courts will rule in new tax situ- ations, based on their unique factual scenarios. Before using Tax Foresight certain parts of research were manual and time-consuming. Today, though, Tax Foresight "allows us to do more of the critical thinking and analysis rather than spending time simply searching," Schwartz says. "The beauty of Tax Foresight is if you have a particular situation, the system can find cases that most closely match it," she notes. Thanks to the leading-edge soft- ware using AI as its backbone, Richter's team can simplify issues such as com- pliance matters by running a scenario through the software. "Then you can get a sense of where financial items should land and determine if a position that you're considering would make sense," Schwartz says. When a firm such as Richter leans into a vision of the future with AI as the centerpiece, it can propel itself past competitors. Schwartz says, "Using tools like Tax Foresight allows us to fulfill our promise of providing the best service we can." As more firms turn to AI to assist with manual processes that used to eat up time, software such as Tax Foresight will be top-of-mind for the more forward-thinking businesses around the world. Artificial intelligence enables you to analyze and synthesize information so that you can speak to your clients in more clear and concise terms. © 2018 Thomson Reuters Canada Limited 00252PO-95575-NP Add the power of prediction to your tax research. www.bluejlegal.com/tax-foresight Instincts are good. Foresight is better. There are many areas in tax law where the eventual outcome can be highly uncertain. The answer could go one way or another based on a wide range of different considerations that are weighted differently in the decision. What if you could have a remarkably accurate tool that synthesizes the lessons from thousands of combinations of fact scenarios and the actual court rulings from those cases? Now you can, with Tax Foresight: • Produce legal advice of the highest possible quality • Get a data-driven perspective on the law you know • Consider every case, not just the leading ones • Quantify risk for clients using a probability rating • Maintain a record of your due diligence Leverage the power of machine learning to cut through the ambiguity in your tax planning, and foresee how judges are most likely to rule in your case.

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