a7238y
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the
month of May 2023
PEARSON plc
(Exact
name of registrant as specified in its charter)
N/A
(Translation
of registrant's name into English)
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address
of principal executive office)
Indicate
by check mark whether the Registrant files or will file annual
reports
under
cover of Form 20-F or Form 40-F:
Form
20-F
X
Form 40-F
Indicate
by check mark whether the Registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934
Yes
No X
Pearson: Generative AI Strategy Update
London - 9th May 2023 - Pearson today updates on the generative AI
enhancements in products across its portfolio. These enhancements,
when combined with Pearson's unparalleled collection of high
quality proprietary intellectual property assets, further
strengthen the Company's position as a digital-first learning
company focused on delivering an unmatched experience for the
consumer across their lifetime of learning.
Andy
Bird, Pearson's Chief Executive, said:
"AI has played an important role across our product portfolio for
many years. As generative AI develops, we expect it to create
significant positive opportunities for Pearson, due to our
unrivalled depth of content and data. Learners and educators place
enormous trust in us so we have a responsibility to be thoughtful
and considered in how we use this technology, whilst continuing to
move at pace to enhance our products."
Pearson has adopted an AI strategy that will embed this technology
across key products throughout the portfolio in a way that enhances
the teaching and learning experience. With several projects well
underway, Pearson is actively focused on the significant
opportunities across the company, especially those using its
trusted, proprietary, learning content. The company has been
working to embed generative AI across a number of key
products:
Workforce Skills uses large language models to develop proprietary
predictive algorithms which assess trends in demand for skills and
occupations globally, and recommend career and learning pathways
for consumers, enterprises and governments.
In Mastering and MyLab, generative AI tools specifically designed
to support higher education faculty are under development for Fall
Back-to-School. Additional student features are under development
that use Pearson proprietary content to answer questions and guide
users through their problem areas. These personalised features will
operate in a secure environment, so users can trust that their
question attempts are not shared, and data stays free from the
noise and corruption of web based AI models.
In Pearson+, users will have access to a generative AI tool that
automatically summarises the content of Channels videos in simple
bullet points and auto generates quizzes and practice problems in
the specific areas where they need more help and practice. The
addition of these features is part of the ongoing strategy to build
a broader base of Pearson+ users beyond higher
education.
In English Language Learning, Pearson has developed AI based open
response assessments. These give real time feedback on how to
improve in writing and speaking based on the proprietary
Global Scale of English. Additionally, a conversation AI tutor is
in development to help with anytime, anywhere speaking
practice.
Pearson has a unique range of assets, supporting a diverse business
model, with expertise in assessments and qualifications, language
learning, workforce skills, virtual learning and higher education.
Businesses outside of higher education represent the majority of
profits (80%).
On 28th April
we reported a strong Q1 performance, with underlying sales growing
6%, underpinned by each division growing in line with or ahead of
our expectations. Pearson+ continues to show strong performance of
paid subscriptions this Spring semester, growing threefold versus
Spring 2022. We remain on track to achieve our 2023 guidance and
are confident in our ability to meet our financial expectations for
the medium term. Our intention is to commence a buyback to
repurchase £300m of shares in the second half of
2023.
We will hold a briefing call at 12.00pm (BST) today with CEO, Andy
Bird, Tom Ap Simon, President of Higher Education and Virtual
Schools, Giovanni Giovannelli, President of English Language
Learning and Mike Howells, President of Workforce
Skills.
Conference Call:
Participants may call the following numbers, 10 - 15 minutes before
conference start.
United Kingdom: +44 (0)
207 107 0613
United States: +1 (1) 631 570
56 13
ID Number:
42653186
Other international numbers available here.
Webcast link: https://www.investis-live.com/pearson/64527598900ed614001919c9/idda
Contacts
Investor Relations
|
Jo Russell
James Caddy
Gemma Terry
Brennan Matthews
|
+44 (0) 7785 451 266
+44 (0) 7825 948 218
+44 (0) 7841 363 216
+1 (332) 238-8785
|
|
|
|
Teneo
|
Charles Armitstead
|
+44 (0) 7703 330 269
|
Notes
Forward looking statements: Except
for the historical information contained herein, the matters
discussed in this statement include forward-looking statements. In
particular, all statements that express forecasts, expectations and
projections with respect to future matters, including trends in
results of operations, margins, growth rates, overall market
trends, the impact of interest or exchange rates, the availability
of financing, anticipated cost savings and synergies and the
execution of Pearson's strategy, are forward-looking statements. By
their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in future. They are based on numerous
assumptions regarding Pearson's present and future business
strategies and the environment in which it will operate in the
future. There are a number of factors which could cause actual
results and developments to differ materially from those expressed
or implied by these forward-looking statements, including a number
of factors outside Pearson's control. These include international,
national and local conditions, as well as competition. They also
include other risks detailed from time to time in Pearson's
publicly-filed documents and you are advised to read, in
particular, the risk factors set out in Pearson's latest annual
report and accounts, which can be found on its website
(www.pearsonplc.com). Any forward-looking statements speak only as
of the date they are made, and Pearson gives no undertaking to
update forward-looking statements to reflect any changes in its
expectations with regard thereto or any changes to events,
conditions or circumstances on which any such statement is based.
Readers are cautioned not to place undue reliance on such
forward-looking statements.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
PEARSON
plc
|
|
|
Date: 09
May 2023
|
|
|
By: /s/
NATALIE WHITE
|
|
|
|
------------------------------------
|
|
Natalie
White
|
|
Deputy
Company Secretary
|