G20 podium
Steve Hasker stands as a testament to the notion that tenacity and talent can transcend boundaries and build a prolific career that touches and influences diverse sectors. As the President and CEO of Thomson Reuters, he applies his unique blend of leadership, vision, and relentless pursuit of excellence to drive the corporation forward, embodying its mission to empower its clientele with trusted news and intelligent information.
Raised in Australia, Hasker’s early years instilled in him a sense of curiosity and a respect for the power of information. He was academically focused, with an insatiable desire to learn and understand the world. This curiosity propelled him from the shores of Australia where he earned an undergraduate economics degree from the University of Melbourne to the ivy-covered halls of Columbia University where he received an MBA and master’s in international affairs.
Hasker joined Thomson Reuters in March 2020. Prior to joining Thomson Reuters, he was Senior Adviser to TPG Capital, a private equity firm, from August 2019 to February 2020. Prior to that, he was Chief Executive Officer of CAA Global, a TPG Capital portfolio company, from January 2018 to August 2019.
His career began in the financial services industry, where he spent five years working in management consulting before moving into the world of information and data analysis with Nielsen, where he became President and COO of Global Products. At Nielsen, he oversaw a complex operation providing analytics to understand consumers and markets. The leadership acumen and data insight he developed at Nielsen became instrumental in guiding his vision for the future of Thomson Reuters.
Steve is also a non-executive director of Appen Limited and a member of the Australia and New Zealand Institute of Chartered Accountants.
When Hasker took the reins as CEO of Thomson Reuters, the challenges were manifold: transitioning a workforce amidst a global pandemic, steering through a rapidly changing media landscape, and meeting the evolving needs of businesses and policy makers for accurate and timely information. Hasker’s analytical mind, honed by his years in data analytics, coupled with his innate leadership abilities, proved vital in navigating these challenges.
Under Hasker’s stewardship, Thomson Reuters has fortified its standing as a global leader in news and business information services. The company is guided by a purpose-driven ethos, reflected in its mission to provide clients with the knowledge they need to make decisions that matter. The news division of Thomson Reuters is one of the world’s largest international multimedia news providers, reaching billions of people worldwide every day. The company’s commitment to truth, accuracy, and impartiality in news is echoed in its business services, providing trusted information to leaders and decision-makers.
Hasker views Thomson Reuters as more than a corporate entity; to him, it is a vehicle for positive impact. He underscores the corporation’s role in society, particularly its ability to bring transparency to complex issues, foster understanding, and hold power to account. He strongly believes that by delivering facts, they can influence public discourse and policy, enabling societies to progress.
Hasker’s leadership is also reflected in his commitment to corporate social responsibility. Under his direction, Thomson Reuters has focused on its environmental, social, and governance (ESG) agenda. The corporation plays an active role in the global sustainability effort and is committed to supporting diversity, inclusion, and social justice. Hasker himself champions this cause, using his position to advocate for systemic change within the industry and beyond.
But at its heart, Thomson Reuters under Hasker’s leadership remains dedicated to its core client base. The company provides industry-leading solutions to legal, tax, compliance, government, and media professionals, driving productivity, and decision-making. Their data analytics and risk assessment tools have proven invaluable to countless organizations, allowing them to navigate an increasingly complex global landscape.
As CEO, Hasker exemplifies a purpose-driven approach to leadership. He understands the power and responsibility that come with steering a company like Thomson Reuters – a company deeply intertwined with the world’s economic, legal, and media landscapes.
He views their work as a service not just to their clients, but to society at large.
The landscape of professional services is being transformed by artificial intelligence (AI), and Thomson Reuters, under the leadership of Steve Hasker, is at the forefront of this transformation. Reflecting the corporation’s commitment to driving innovation, Thomson Reuters is investing over $100 million annually on AI capabilities, aiming to redefine how professionals work.
Thomson Reuters’ recent collaboration with Microsoft 365 Copilot marks a significant milestone in this journey. This powerful partnership unlocks the potential of generative AI, transforming workflows, insights, and efficiencies for the corporation’s vast clientele, particularly legal professionals.
Hasker’s vision for AI-driven professional service is grounded in a commitment to efficiency and discovery. “Generative AI empowers professionals to redefine their work and discover innovative approaches,” he says. The goal is to use AI to augment knowledge, enabling professionals to work smarter and concentrate on what truly matters.
This vision is being realized through several initiatives. The integration of Microsoft 365 Copilot will revolutionize legal research, drafting, and client collaboration. In addition to this integration, Thomson Reuters is also planning to incorporate new generative AI capabilities across its product suite. These new features include Westlaw Precision and Practical Law, which utilize generative AI to provide quick and reliable answers to complex legal and tax questions.
Furthermore, AI is being used to transform legal document review and summary processes, drastically reducing the time professionals spend reading through relevant documents. The AI can spot key risks, resolve questions, and generate powerful work product in a fraction of the time. Another key feature is the Legal Drafting tool, which combines trusted Thomson Reuters content and intelligence to surface key insights, legal knowledge, and answers to complex questions.
In collaboration with Microsoft, Thomson Reuters has developed a contract drafting solution that delivers a draft working document and access to trusted content directly within Microsoft Word. A demonstration of this integration was showcased at the Microsoft Build event in Seattle, showing how the drafting of a contract, which used to take hours, could be completed in minutes.
But beyond the technological advancements, there is a commitment to trust. “At Thomson Reuters we remain committed to augmenting professional knowledge and workflows with AI,” Hasker assures. This commitment goes together with a pledge to unlock AI in secure, transparent, and accountable ways, as reflected in Thomson Reuters’ recently updated AI and Data Principles.
With plans to release generative AI capabilities in platforms like Westlaw, Practical Law, and Drafting in the second half of 2023, Hasker’s vision of a future dominated by AI-driven services is rapidly coming into fruition. Moreover, Tax and Compliance, Risk, and Fraud generative AI solutions are expected to follow in 2024.
The path Thomson Reuters is taking under Hasker’s leadership is emblematic of a future where AI and human intellect coalesce to create new avenues of efficiency and innovation. As they continue to harness the transformative potential of AI, one can expect to see even greater strides in their quest to empower professionals around the world. In a rapidly evolving digital world, Steve Hasker and Thomson Reuters are defining the future of professional services.
As with all guests on The Caring Economy, Steve Haskerexemplifies how leaders with purpose-driven lives and careers are shaping our contemporary lives for the better.
