LONDON — RELX PLC, a global provider of information and analytics, is increasing its investment in artificial intelligence analytics to enhance its service offerings. The announcement was made during the company’s quarterly earnings report on Thursday, during which it also addressed concerns regarding its current valuation.

“AI analytics is a key driver of our growth strategy,” said CEO Erik Engstrom. “We believe this investment will significantly improve our capability to provide insights for our customers.”

The company reported a 10% rise in revenue for the last quarter, primarily driven by its analytics division. RELX’s commitment to AI comes amid increasing competition in the sector and a broader industry trend towards technology-driven solutions.

RELX, which operates in over 180 countries, has been utilizing AI to optimize various aspects of its business, including data collection and analysis, customer engagement, and product development. The firm aims to differentiate itself by leveraging AI to provide more accurate and actionable insights.

Despite the robust growth, analysts have raised questions about the valuation of RELX’s stock. Some experts suggest that the current market price may not reflect the underlying value of its evolving capabilities.

Founded in 1903, RELX has transformed from a traditional publishing company to a leading provider of analytics and information services. The shift towards AI is part of a broader strategy to adapt to changing market demands and technological advancements.

Source: news source