TRI

AI agents are replacing junior analysts in professional services firms, threatening the traditional billable-hour business model. Companies that own essential databases, software systems, or can charge for outcomes rather than hours are best positioned to thrive in this transition. McKinsey now employs 20,000 AI agents alongside 40,000 humans, signaling the scale of this shift.

Intuit is shifting its tax preparation strategy to prioritize customer acquisition over near-term revenue, launching competitive pricing through Credit Karma Tax (free federal, $15 state filing) while maintaining TurboTax's premium positioning. However, this strategy will moderate TurboTax revenue growth to 2-3% in fiscal 2027 from 7% in 2026, as the company lost 3 percentage points of DIY tax e-file market share due to pricing pressures.

Thomson Reuters stock rose 2.09% after the company closed the sale of a 51% stake in its global print unit to KKR-advised capital accounts for approximately $500 million. The newly formed Westbridge Print will operate as a joint venture, allowing Thomson Reuters to focus on next-generation AI solutions for tax, audit, compliance, and legal sectors.

Thomson Reuters' three core businesses—Legal Professionals, Corporates, and Tax, Audit & Accounting—generated 10%, 10%, and 8% organic growth respectively in Q2 2026, representing 83% of total revenues. With the company's overall organic revenue growth at 9% and recurring revenues up 9%, these core segments are becoming increasingly critical to sustaining momentum. However, Reuters and Global Print showed weaker performance at 4% and -3% respectively, making future growth heavily dependent on the Big 3's ability to maintain high-single-digit to double-digit growth as their revenue base expands.