For a first-order reaction, the half-life is given by the equation:
\[
t_{\frac{1}{2}} = \frac{0.693}{k}
\]
Where:
- \( k = 2 \times 10^{-3} \, \text{s}^{-1} \) is the rate constant.
Substitute the values:
\[
t_{\frac{1}{2}} = \frac{0.693}{2 \times 10^{-3}} = 346.5 \, \text{s}
\]
Thus, the half-life of the reaction is approximately 0.347 s.