Media conglomerate Thomson Reuters will invest millions into AI and machine learning over the next two years to shore up its offerings and cut costs in a post-pandemic world. The company said it will spend $500M-$600M to boosts various technologies and "get data faster" to customers who are working remotely.
- The Toronto-based company says it will evolve into a "content-driven technology company" with an operational structure.
- Chief Executive Steve Hasker said people are relying more on "24-7, digital always-on, sort of real-time always available information, served through software and powered by AI and ML [machine learning]."
- The company is looking to trim operating expenses by $600M through attrition, modernizing and consolidating technologies, and other maneuvers.
- On its artificial intelligence webpage, Thomson Reuters lists its research projects and other AI/ML efforts, including those involving natural language processing and information retrieval.